#TariffsPause Markets surge due to tariff pause: President Donald Trump's announcement of a 90-day pause on all "reciprocal" tariffs led to a strong rebound in U.S. markets, which boosted Asian and European markets. Fears of a catastrophe in the bond market convinced Trump to hit the brakes. No pause for China: The relief does not extend to China, whose tariffs will increase to at least 145%. But Beijing does not back down: its latest round of retaliatory tariffs of 84% on U.S. products is already in effect.

On Wednesday, Trump announced a 90-day suspension of additional tariffs. He had originally imposed a 46% tax on Vietnam, 49% on Cambodia, and 24% on Malaysia.

Experts say that the proposed tariffs could have dealt a severe blow to Vietnam and Cambodia, both long-time manufacturers of clothing and footwear for U.S. consumers. In recent years, international brands have increasingly shifted their production from China to those countries to take advantage of lower labor costs and avoid the growing geopolitical tension between China and the United States.