U.S. currency experiences decline as the impact of Trump's unexpected tariff halt begins to unfold
On a Wednesday in June 2025, President Trump awarded a 90-day reprieve on his "Liberation Day" reciprocal levies. The exact date of the reprieve's end has not been specified.
The reciprocal levies, which are tariffs, had gone into effect less than 24 hours earlier. These tariffs, applied to most countries in a reciprocal manner, are a response to other countries' own tariffs.
The reprieve does not affect the baseline tariff rate of 10% that Trump maintains on most countries. After the 90-day reprieve, the tariff rate remains at 10% for all countries.
Individuals subject to Trump's "Liberation Day" fines received a 90-day extension, announced precisely on June 24, 2025. However, it is not clear from the article what specific countries are affected by the reprieve.
The announcement of the reprieve came without any mentioned negotiations or discussions leading up to it. The tariffs were initially implemented by Trump, and the "Liberation Day" reciprocal levies were a part of this initiative.
The article does not provide information on the reason for the reprieve. Despite the reprieve, businesses and individuals are encouraged to prepare for the potential resumption of the tariffs after the 90-day period.
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