Trump says he's backing off of his original retaliatory tariffs — for 90 days

Trump also announced that Chinese goods would now be subject to a 125% tariff, a further escalation in his trade war with China.Anna Moneymaker/Getty ImagesTrump says he's backing off on his initial reciprocal tariff plans.He announced on Wednesday that reciprocal tariffs would drop to 10% for 90 days.Trump also said that tariffs on Chinese goods would increase to 125%.President Donald Trump announced on Wednesday afternoon that he's backing off of his original plan for reciprocal tariffs on for