WASHINGTON — Facing a global market meltdown, U.S. President Donald Trump on Wednesday abruptly backed down on his tariffs on most nations for 90 days, but raised his tax rate on Chinese imports to 125 per cent.

It was seemingly an attempt to narrow what had been an unprecedented trade war between the U.S. and most of the world to one with China.{ai:summary}President Trump has temporarily suspended tariffs on most countries for 90 days amid a global market downturn, while increasing the tax rate on Chinese imports to 125%. This move reflects ongoing tensions in trade relations and aims to stabilize the U.S. economy. #economy

Trump pauses most tariffs for 90 days, raises taxes on Chinese imports

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