The tariffs on goods imported from China are more like 145% when adding in the Trump administration's previous tariffs tied to the emergency declaration on fentanyl. Trump announced Wednesday that he was bumping up reciprocal tariffs on imports from China to 125%,

Trump says 'more than 75 countries' want to negotiate trade deals to remove the tariffs. China, however, imposed its own 84% retaliatory tariffs on US imports today.

In a dramatic move Wednesday, Trump authorized a 90-day pause in the higher tariffs for most countries he announced last week while maintaining a 10% universal tariff.

The president's global raft of tariffs was dubbed "worse than the worst-case scenario" by experts, but the most alarming parts of the plan were delayed on April 9.

China's Commerce Minister Wang Wentao had discussions with his Saudi Arabian and South African counterparts to exchange views on responding to the United States' "reciprocal tariffs", the Chinese ministry said on Friday.

Stocks plunged a day after a historic gain. The White House confirmed China's tariff rate is higher than initially thought, at 145%.

The White House also confirmed that the tariffs on China would reach 145% due to a pre-existing 20% levy on fentanyl