Global markets rebound after Trump reversal, but 125% US tariffs on China take effect
(BBC) Financial markets across Asia make gains after Donald Trump announced a 90-day pause for countries hit by higher US tariffs
But the trade war between Beijing and Washington deepens, as the US president increases tariffs on goods from China to 125%, citing a “lack of respect”
China’s retaliatory tariffs of 84% on all US imports have taken effect, with the government reiterating it will not back down to Trump
Trump’s universal 10% levy for all countries, except China, remains in place
In the US, Wall Street made historic gains on Wednesday following days of economic turmoil
Speaking at a Nascar event at the White House, Trump maintains that “fair deals” will be made with China and every other country
