Trump announces 90-day tariff pause for at least some countries
1. Trump announced a temporary 10% tariff rate for 90 days on imports. 2. Tariffs on imports from China raised to 125% effective immediately. 3. S&P 500 surged by 7%, marking its biggest one-day gain in five years. 4. Over 75 countries reached out for negotiations regarding tariffs. 5. Financial markets had been in turmoil prior to this announcement.