April 9, 2025

President Donald Trump reversed course in the global trade war he launched just a week ago, announcing in a social media post a 90-day pause on new tariffs against every country but China.

That came just hours after Trump urged the country to “BE COOL” in another post that came amid continued worldwide chaos, with China and the European Union hitting back and the financial fallout spreading to bond markets.

“I think that people were jumping a little bit,” Trump said Wednesday, acknowledging the market turmoil contributed to his decision to back off the tariffs. “They were getting a little bit yippy, a little bit afraid.”

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