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Reports indicate the bond market ultimately prompted Trump to pull back on his stream of tariffs.
The US President announced on social media that he paused tariffs against 75 countries for 90 days - with China being a notable exception.
NZ Herald business editor Liam Dann explained further - and unpacked the market reactions since Donald Trump made his u-turn.
LISTEN ABOVE
- 'Tariff wars miss the point': Zuru co-founder Nick Mowbray criticises US tariff plan
- Trump's tariff blitz good news for Kiwi motorists as oil prices slump
- Reserve Bank cuts Official Cash Rate by 25 basis points to 3.5%
- ‘Rough day ahead’: NZ stocks dip in US tariffs market meltdown
- ‘A zero tariff situation’: Musk calls for Europe-US free-trade zone after Trump unleashes plans
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