As President pauses tariffs, Kemi urges PM to use Brexit freedoms to get best deals for Britain

DONALD Trump abruptly paused tariffs above 10% for 90 days yesterday on all countries except for China, which he raised to a staggering 125%.

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US markets surged in response, with the S&P 500 up 7.8% in afternoon trading.

The Dow Jones Industrial Average was up 2,476 points, or 6.6% and the Nasdaq composite was 9% higher.

Posting on his Truth Social site, Mr Trump said: "Based on the lack of respect that China has shown to the world's markets, I am hereby raising the tariff charged to China by the United States of America to 125%, effective immediately." The White House also announced a 10% to China. We should be trading with all countries and making sure that we're not overly reliant on one partner."