Trump blinks but doubles down on China
- DONALD Trump triggered a wave of relief among investors last night after ‘pausing’ his global tariff war for 90 days.
- In a dramatic climbdown, the US President said a blizzard of ‘reciprocal’ tariffs on countries worldwide would be put on hold to allow time for trade talks.
- All nations except China now face a 10 per cent ‘baseline’ tariff on exports to the US for three months. But Mr Trump stepped up his trade war with Beijing, saying tariffs on Chinese goods would soar to 125 per cent.