The latest news on the United States. Global markets have surged today following President Donald Trump's abrupt decision to halt new tariffs on most countries, a sudden reversal that briefly steadied investor nerves.
While the pause calmed tensions with several allies, the United States doubled down on its trade dispute with China, significantly increasing tariffs on Chinese goods. Beijing has pledged to retaliate, and exporters are now scrambling to adapt.
The move appears driven in part by financial turbulence sparked by earlier tariff hikes, with US officials framing it as a tactic to prompt broader negotiations. For now, it remains to be seen how long the ceasefire lasts, and whether it leads to a deeper global divide.