Markets soar as trump pauses reciprocals tariffs except chaina

A sudden social media post from Donald Trump has turned all his tariff plans upside down, again. "Based on the lack of respect China has shown to the world markets", he declared, "I am hearby raising the tariff charged by the United States of America to 125%".

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As for the countries which he said had not "at my strong suggestion retaliated in any way, shape or form...I have authorised a 90 day pause and a substantially lowered reciprocal tariff during this period of 10%".

It took several questions to the White House press secretary to establish that this was a universal flat rate - and not on top of the 10% already imposed.

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