Commerce Secretary Howard Lutnick has revealed how President Donald Trump changed his mind on sweeping tariffs against dozens of countries that had rocked the stock market. In an interview on Fox News’ Special Report with Bret Baier,

Trump has promised higher rates for his latest and most severe volley of duties, which he calls “reciprocal” tariffs. With so many back-and-forth tariff actions and threats, it can be tough to keep track of where things stand.

US President Donald Trump’s sweeping new tariffs have gone into full effect. When Mr Trump announced the latest round of tariffs on April 2, he declared that the US would now tax nearly all of America’s trading partners at a minimum of 10% – and impose steeper rates for countries that he says run trade surpluses with the US.

President Trump sent the financial markets soaring Wednesday when he announced a 90-day pause on all 'reciprocal' tariffs, except those on China, which he boosted to a cumulative 125%. Here is a quick glance at the current tariff picture.

President Donald Trump shared on Truth Social that he has “ authorized a 90 day PAUSE, and a substantially lowered Reciprocal Tariff during this period, of 10%.” Trump also raised the tax rate on Chinese imports to 125%.

Billionaire fund manager Bill Ackman, who endorsed Donald Trump's run for president, on Tuesday ratcheted up his pleas with Washington to hit pause on tariffs to stave off "a major global economic disruption.

U.S. Trade Representative Jamieson Greer addressed the Senate Finance Committee a day after global markets swung wildly and some business leaders lambasted the president's aggressive bid to raise tariffs on almost every nation on earth.