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President Trump announced a pause on reciprocal tariffs for most countries, maintaining higher tariffs on China amid intensified trade tensions.
What’s the Scoop?
- Global Relief: President Trump paused global tariffs, offering relief to global markets and allies by allowing time for new trade negotiations.
- China Targeted: Tariffs on China rose to 125%, reflecting heightened trade tensions and criticism of China's economic practices.
- Market Volatility: Stock markets rallied, with the S&P 500 surging 7% after Trump eased global tariff fears.
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