Donald Trump has backed down on his tariff plan that threatened to upend the global trading system.
In a dramatic change of policy, Donald Trump has paused his so-called “reciprocal” levies on most nations for 90 days.
This, after his tariff policy sent markets globally into a freefall and left business leaders and even pro-Trump Republicans warning of a recession.
While the White House will be looking to cut deals with other nations on the levies, Trump has ramped up his trade dispute with China.
His decision to reverse course may have brought relief to markets.
But, with Trump’s series of reversals since taking office in January, critics say uncertainty remains hanging over the United States economy.