Facing a global market meltdown, President Donald Trump on Wednesday abruptly backed down on his tariffs on most nations for 90 days, but raised the tax rate on Chinese imports to 125%.It was seemingly an attempt to narrow what had been an unprecedented trade war between the U.S. and most of the world to a showdown between the U.S. and China. The S&P 500 stock index jumped nearly 7% after the announcement, but the precise details of Trump's plans to ease tariffs on non-China trade partners were not immediately clear.Trump posted on Truth Social that because 바카라 게임 웹사이트�more than 75 Countries바카라 게임 웹사이트� had reached out to the U.S. government for trade talks and have not retaliated in meaningful way 바카라 게임 웹사이트�I have authorized a 90 day PAUSE, and a substantially lowered Reciprocal Tariff during this period, of 10%, also effective immediately.바카라 게임 웹사이트�The 10% tariff was the baseline rate for most nations that went into effect on Saturday. It's meaningfully lower than the 20% tariff that Trump had set for goods from the European Union, 24% on imports from Japan and 25% on products from South Korea. Still, 10% would represent an increase in the tariffs previously charged by the U.S. government.The announcement came after the global economy appeared to be in open rebellion against Trump's tariffs as they took effect Wednesday, a signal that the U.S. president was not immune from market pressures. White House press secretary Karoline Leavitt said the walk back was part of some grand negotiating strategy by Trump.바카라 게임 웹사이트�President Trump created maximum negotiating leverage for himself,바카라 게임 웹사이트� she said, adding that the news media "clearly failed to see what President Trump is doing here. You tried to say that the rest of the world would be moved closer to China, when in fact, we바카라 게임 웹사이트�ve seen the opposite effect the entire world is calling the United States of America, not China, because they need our markets.바카라 게임 웹사이트�But market pressures had been building for weeks ahead of Trump's move. Particularly worrisome was that U.S. government debt had lost some of its luster with investors, who usually treat Treasury notes as a safe haven when there's economic turbulence. Government bond prices had been falling, pushing up the interest rate on the 10-year U.S. Treasury note to 4.45%. That rate eased after Trump's reversal.Gennadiy Goldberg, head of U.S. rates strategy at TD Securities, said before the announcement that markets wanted to see a truce in the trade disputes.바카라 게임 웹사이트�Markets more broadly, not just the Treasury market, are looking for signs that a trade de-escalation is coming," he said. "Absent any de-escalation, it바카라 게임 웹사이트�s going to be difficult for markets to stabilize.바카라 게임 웹사이트�John Canavan, lead analyst at the consultancy Oxford Economics, noted that while Trump said he changed course due to possible negotiations, he had previously indicated that the tariffs would stay in place.바카라 게임 웹사이트�There have been very mixed messages on whether there would be negotiations," Canavan said. "Given what's been going on with the markets, he realized the safest thing to do is negotiate and put things on pause.바카라 게임 웹사이트�Presidents often receive undue credit or blame for the state of the U.S. economy as their time in the White House is subject to financial and geopolitical forces beyond their direct control.But by unilaterally imposing tariffs, Trump is exerting extraordinary influence over the flow of commerce, creating political risks and pulling the market in different directions based on his remarks and social media posts. There still appear to be 25% tariffs on autos, steel and aluminum, with more imports set to be tariffed in the weeks ahead.Before Trump's reversal, economic forecasters say his second term has had a series of negative and cascading impacts that could put the country into a downturn.바카라 게임 웹사이트�Simultaneous shocks to consumer sentiment, corporate confidence, trade, financial markets as well as to prices, new orders and the labor market will tip the economy into recession in the current quarter,바카라 게임 웹사이트� said Joe Brusuelas, chief economist at the consultancy RSM.Treasury Secretary Scott Bessent has previously said it could take months to strike deals with countries on tariff rates, and the administration has not been clear on whether the baseline 10% tariffs imposed on most countries will stay in place. But in an appearance on 바카라 게임 웹사이트�Mornings with Maria,바카라 게임 웹사이트� Bessent said the economy would 바카라 게임 웹사이트�be back to firing on all cylinders바카라 게임 웹사이트� at a point in the 바카라 게임 웹사이트�not too distant future.바카라 게임 웹사이트�He said there has been an "overwhelming" response by 바카라 게임 웹사이트�the countries who want to come and sit at the table rather than escalate.바카라 게임 웹사이트� Bessent mentioned Japan, South Korea, and India. "I will note that they are all around China. We have Vietnam coming today,바카라 게임 웹사이트� he said.What's not yet known is what Trump does with the rest of his tariff agenda. In a Tuesday night speech, he said taxes on imported drugs would happen soon.