Live updates: China and EU retaliate as new US tariffs go into effect

What to Know

• President Donald Trump announced a 90-day pause on tariffs for dozens of countries except China, which he said would now rise to 125%.
• China said it was hiking retaliatory duties on U.S. imports to 84% from 34% hours after the new U.S. tariffs went into effect.
• European Union officials also approved imposing a fresh set of retaliatory duties on U.S. imports into the region. The duties, which would take effect April 15, would range from 10% to 25% on more than $24 billion worth of U.S. goods.
• Trump said Tuesday that his administration will “very shortly” announce tariffs on pharmaceuticals.