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Facing a global market meltdown, President Donald Trump on Wednesday abruptly backed down on his tariffs on most nations for 90 days, but raised his tax rate on Chinese imports to 125%.
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The 90-day breather would apply to reciprocal and 10% tariffs, Trump said. His sudden backtracking came less than 24 hours after sharp new tariffs kicked in on imports from multiple trade partners.
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News and Media
U.S. stocks are flying higher after President Donald Trump announced a drop in some of his tariffs, except for China. The S&P 500 was up 5.7% after erasing an earlier loss of 0.7%
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News and Media
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