Trump Suspends Tariffs, Sparks Global Relief, Market Surge

President Donald Trump announced a 90-day pause on most newly imposed tariffs, which garnered mixed reactions from both sides of the political aisle. Many Senate Republicans expressed relief and optimism during a closed-door lunch, with the market responding positively as the S&P 500 saw its sharpest single-day gain since 2008. Conversely, Democrats voiced skepticism regarding Trump's unpredictable tariff strategy, with some lawmakers feeling the announcement created further confusion. The policy retains a 10% global tariff while increasing duties on China to 125%, and Trump's decision has prompted discussions about its implications for U.S. trade policy moving forward. European Union leaders also welcomed the announcement, viewing it as a step towards stabilizing global trade relations and reaffirming their commitment to negotiating reduced tariffs with the U.S. Amid these developments, concerns about the lack of clear strategy remain prevalent among lawmakers.