Another U-Turn: Trump reverses tariffs that caused market meltdown, but companies remain bewildered
By PAUL WISEMAN and CHRISTOPHER RUGABER, AP News
President Donald Trump delivered another jarring reversal in American trade policy Wednesday, suspending for 90 days import taxes he’d imposed barely 13 hours earlier on dozens of countries while escalating his trade war with China. The moves triggered a powerful stock market rally on Wall Street but left businesses, investors and America’s trading partners bewildered about what the president is attempting to achieve.
The U-turn came after the sweeping global tariffs Trump announced last week set off a four-day route in global financial markets, paralyzed businesses and raised fears the U.S. and world economies would tumble into recession.
