Trump stuns with tariff backtrack but punishes China

(Image: Getty)

Thu, 10 Apr 2025

By Danny Kemp with Sam Davies in BeijingUS President Donald Trump abruptly paused tariffs on most countries Wednesday after admitting they made the markets nervous but doubled down on a brutal trade war with superpower rival China.Wall Street stocks rocketed to close solidly higher Wednesday, with dramatic advances on all three major indexes. The Dow Jones Industrial Average surged 7.9% to 40,608.45, the broad-based S&P 500 Index rallied 9.5% to 5,456.90, and the tech-focused Nasdaq Composite Index jumped more than 12.2% to 17,124.97.&...

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