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U.S. stocks are soaring on a euphoric Wall Street Wednesday after President Donald Trump said he would back off on most of his tariffs temporarily, as investors had so desperately hoped he would.
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Oil prices slumped to a four-year low Wednesday in anticipation of slowing economic growth and reduced energy demand, both casualties of a trade war that began after U.S. President Donald Trump ordered widespread tariffs against the imports of U.S. trading partners.
U.S. President Donald Trump has 'authorized' a 90-day pause on some tariffs while vowing to raise levies against China to 125 per cent, effective immediately, he said Wednesday.
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