Trump announced that he authorized a 90 day pause on the lofty tariffs and a “substantially lowered reciprocal tariff during this period, of 10%, also effective immediately” in a post on Truth Social Wednesday afternoon, ending days of speculation around whether or not the tariffs would actually go into effect or were negotiable.

The Trump administration took that formula’s figure, -0.5 for South Korea, and divided it by two to calculate the U.S. “discounted reciprocal” tariff rate. So, while South Korea imposes an effective tariff rate of .79 percent on U.S. goods, the reciprocal tariff rate the U.S. is imposing on South Korea is 25 percent.

White House press secretary Karoline Leavitt confirmed on Tuesday that Trump's threatened additional 50% tariff on China will go into effect early Wednesday, bringing the total tariff rate against Beijing to 104%. "They will be going into effect at 12:01 a.m.," she said.

President Donald Trump’s new tariffs threaten to push up prices on clothes, mobile phones, furniture and many other products in the coming months