Trump's Trade Turnaround: Impact on Global Markets and U.S. Consumers

President Trump's decision to pause hefty tariffs on numerous countries temporarily relieved global markets but intensified the trade conflict with China. Though European leaders welcomed the change, China's resistance remained strong. U.S. consumers and global businesses face the ongoing repercussions of these tariffs.

President Donald Trump's unexpected move to halt most new tariffs on numerous countries has provided much-needed relief to global financial markets while simultaneously intensifying the trade dispute with China.

Trump's reversal, occurring less than a day after imposing steep new tariffs, has led to a significant market uptick, but the European and Asian markets remain on edge. While Europe appreciated the pause and hopes for negotiations, China labeled U.S. tactics as threats and blackmail.

Despite signs of negotiation, Trump continues to pressure China with elevated tariffs and strategic actions aimed at reducing China's influence in global shipping. U.S. consumers, already feeling the impact through increased prices, may bear the long-term brunt of this trade strategy.

(With inputs from agencies.)