Washington: In an amazing reversal, U.S. President Donald Trump said he would temporarily lower the massive responsibilities he just imposed on dozens of countries, while further increasing pressure on China, making global stocks higher and higher.

Experts and politicians posted reactions on social media after Trump announced the news.

They filed the charges, and the president planned a reverse “pump and dump” plan on the U.S. economy.

Democratic Senator Adam Schiff called for an investigation into market manipulation or insider trading.

He wrote on X: “Does Donald Trump’s inner circle make illegal profits from these huge fluctuations in the stock market through insider trading? Congress must find out.”

This was also supported by Senator Elizabeth Warren.

“I call for an investigation into whether President Trump’s market manipulation benefits his Wall Street donors, both workers and small businesses pay the price,” Warren wrote on X.

She added: “Did Trump help insiders cash in on his tariffs towed shipments? It certainly looks like corruption.”

In addition, U.S. Senator Chris Murphy responded to Trump’s actions: “Insider trading scandal is brewing. Trump’s 9:30 a.m. tweet at 9:30 a.m. shows that he longs for his people to make money only from the private information he knows. So who knows in advance, how much money they make?”

Trump’s turntable on Wednesday was less than 24 hours after most trading partners slashed new tariffs, the most intense financial market volatility since the Covid-19-19-19 pandemic.

The turmoil removed trillions of dollars from the stock market, causing a disturbing surge in U.S. government bond yields, which seemed to have caught Trump’s attention.

“I thought people jumped a little bit and they became more and more Yippy,” Trump told reporters after the announcement.

Since returning to the White House in January, Trump has repeatedly threatened a series of punishments about trading partners, only revoking some of them at the last minute. Changing approach confuses world leaders and frightened business executives, who say uncertainty makes it difficult to predict market conditions.

The events of the day reduced uncertainty about Trump’s policies and how he and his team created and implemented them.

U.S. Treasury Secretary Scott Bessent asserted that the callback has always been a plan to bring the country to the bargaining table. However, Trump later said that nearly multinational companies have been nearly constructed since his April 2 announcement incorporating his ideas.

Although his policy that he insists on for a few days will never change, he told reporters on Wednesday: “You have to be flexible.”

But he kept the pressure on China, the No. 2 provider of imports from the United States. Trump said he would raise tariffs on Chinese imports to 125% from the 104% level that takes effect at midnight, further escalating the high confrontation between the world’s two largest economies. Over the past week, the two countries have repeatedly traded TIT-TAT tariffs.

Trump’s reversal of state-specific tariffs is not absolute. The White House said nearly all blankets imported by the United States will remain 10%. The announcement also does not appear to affect the duties of cars, steel and aluminum already in existence.

The 90-day freeze also does not apply to the duties paid by Canada and Mexico, because their goods still suffer 25% fentanyl-related tariffs if their goods do not comply with the rules of origin of the United States-Mexico-Canada Trade Agreement. These responsibilities remain temporarily, with uncertain exemptions for USMCA-compliant goods.

“China is unlikely to change its strategy: gain a foothold, take pressure, and let Trump exaggerate his hand. Beijing believes that Trump believes concessions are weakness, so giving the ground will only cause greater pressure,” said Daniel Russel, vice president of international security and diplomacy at the Asian Institute of Social Policy.

“Other countries will welcome the 90-day stay that is implemented – if it continues – but the whipping from Constant Zigzags has created more uncertainty that businesses and governments hate,” Russell said.

Trump’s tariffs have triggered a one-day sale, removing trillions of dollars from global stocks and putting huge pressure on us. Bond bonds and US dollars that form the backbone of the global financial system. Canada and Japan say they will step in to provide stability if needed – a task that the United States usually performs during economic crisis.

Analysts say the sudden surge in stock prices may not eliminate all losses. The survey found that business investment and household spending slowed due to concerns about the impact of tariffs, and Reuters/ipsos The survey found that three-quarters of Americans expect prices to rise in the coming months.

Goldman Sachs has lowered the possibility of a recession to 45% after Trump’s relocation, downgrading 65%, saying the remaining tariffs could still lead to a 15% increase in the overall tariff rate.

Treasury Secretary Bessent has lifted off issues with market turmoil and said the sudden reversal rewards countries that have listened to Trump’s advice against retaliation. He suggested that Trump use tariffs to create the greatest negotiating leverage. “It’s always his strategy,” Best told reporters. “And you might even say he’s putting China in a bad position.”

Bessent is a key person in the country-by-country negotiations and can solve foreign aid and military cooperation and economic matters. The White House said Trump spoke with leaders from Japan and South Korea, and a delegation from Vietnam met with U.S. officials on Wednesday to discuss trade affairs.

Bessent declined to disclose how long it might take to negotiate with more than 75 countries that extend.

Trump said a resolution with China is also possible. But officials said they would prioritize talks with other countries.

“China wants to reach an agreement,” Trump said. “They just don’t know what to do.”

Trump told reporters he had considered the pause for several days. On Monday, the White House condemned a report that the administration was considering taking such a move, calling it “fake news.”

Earlier Wednesday, Trump tried to assure investors and released his truth social account: “Be cool! Everything will be fine. America will be bigger and better than ever!”

Later, he added: “This is a good time to buy!!!”

– Other inputs from Reuters