Trade war reprieve: ‘Uncertainty’ created by Trump will ‘detrimentally’ affect US and world economy

In a stunning reversal, the president said on Wednesday he would temporarily lower the hefty tariffs he had just imposed on dozens of countries, though he also hiked duties for China and kept 25% tariffs levied on aluminium, steel and autos in place. The news sent global stocks soaring after an intense bout of volatility that wiped trillions of dollars off equity markets. As investors cling on to hope for negotiations to avert a full-blown global trade war, FRANCE 24’s Erin Ogunkeye welcomes Richard Portes, Professor of Economics at London Business School.