Trump stuns with tariff backtrack but hikes China rate to 125%
Washington (AFP) April 10, 2025
US President Donald Trump abruptly paused tariffs on most countries, sparking euphoria on global markets Thursday, but upped the ante on a brutal trade war with superpower rival China. After days of turmoil, stocks on Wall Street and across Asia saw huge surges in reaction to Trump's announcement that he was halting a levy hike for almost all nations for 90 days. But Trump also said he w