Trump suspends tariffs on most countries for 90 days, escalates China trade offensive

U.S. President Donald Trump on Wednesday suspended newly imposed tariffs on most countries for 90 days, reversing course amid a steep selloff in global financial markets. At the same time, he sharply raised import duties on Chinese goods to 125%, escalating a confrontation with Beijing. The move effectively narrows the sweeping trade conflict into a targeted economic battle with China. Trump’s announcement triggered a relief rally on Wall Street, where the benchmark S&P 500 surged 9.5% — its strongest one-day gain in over a decade. “In light of ongoing discussions with over 75 ...