Trump stuns with tariff backtrack but punishes China

Trump stuns with tariff backtrack but punishes China
(Image: Getty)
AFP
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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