U.S. President Donald Trump on Wednesday suspended newly imposed tariffs on most countries for 90 days, reversing course amid a steep selloff in global financial markets. At the same time, he sharply raised import duties on Chinese goods to 125%, escalating a confrontation with Beijing. The move effectively narrows the sweeping trade conflict into a targeted economic battle with China. Trump’s announcement triggered a relief rally on Wall Street, where the benchmark S&P 500 surged 9.5% — its strongest one-day gain in over a decade. “In light of ongoing discussions with over 75 ...