Trump's turnabout, which came less than 24 hours after steep new tariffs kicked in on most trading partners, followed the most intense episode of financial market volatility since the early days of the COVID-19 pandemic.
U.S. consumer prices unexpectedly fell in March amid cheaper gasoline and used motor vehicles, but the benign inflation reading is unlikely to be sustained after President Donald Trump doubled down on tariffs on imported Chinese goods.
Trump's turnabout, which came less than 24 hours after steep new tariffs kicked in on most trading partners, followed the most intense episode of financial market volatility since the early days of the COVID-19 pandemic.
