President Donald Trump is pausing “reciprocal” tariffs on most countries for 90 days.

However, he is raising the tariff on Chinese imports to a staggering 125 per cent.

In a social media post, Trump said China has shown a “lack of respect” to the world’s markets.

Wednesday’s development sent global markets skyrocketing after drops in recent days.

It is unclear whether there will be any impact on Canada.