From Bloomberg Markets and Finance.

President Donald Trump announced a 90-day pause on higher tariffs that hit dozens of trade partners after midnight, while raising duties on China to 125%. He spoke to reporters at the White House about the decision.
Trump faced massive pressure from business leaders and investors to reverse course.
“I thought that people were jumping a little bit out of line,” Trump told reporters at the White House on Wednesday when asked why he backed off. “They were getting a little bit yippy, a little bit afraid.”

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