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The Guardian - UK

World

Phillip Inman

Why did Trump retreat on tariffs and is the market reaction justified?

Donald Trump United States Adam Schiff United Kingdom White House

Donald Trump delivers remarks on tariffs at the White House, holding a tariff board — Donald Trump has been accused of insider trading after his sudden U-turn on tariff rates.
Photograph: Carlos Barría/Reuters

The twists and turns in Donald Trump’s tariff war with the rest of the world has sent financial markets spinning. Stock markets have rebounded in the US and across Europe and Asia after the White House paused some of the most punitive import charges on Wednesday, except those on China. We look at what happened, and the likely effects.

What may have prompted the climbdown?

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