On 9 April 2025, President Donald Trump hit the brakes on his aggressive tariff plan, announcing a 90-day pause on levies against most countries, just a week after unveiling them as his 'Liberation Day' gambit. Markets, which had cratered amid fears of a global trade war, roared back: the Dow surged nearly 3,000 points, and the Nasdaq leapt 12%.
Yet, while Wall Street cheered, business leaders offered a kaleidoscope of reactions, from cautious relief to outright frustration. With a £1.5 trillion ($1.9 trillion) trade deficit in his crosshairs, Trump kept the heat on China, jacking tariffs there to 125%, but for everyone else, the reprieve has sparked hope, doubt, and a dash of sarcasm. Is this a masterstroke or a messy retreat?
