TRADING DAY Making sense of the forces driving global markets By Jamie McGeever, Markets Columnist Trump blinks, Wall Street soars Wall Street clocked one of its best days in history on Wednesday after President Donald Trump announced a 90-day pause on tariffs and reduced levies on many countries,

Canada's main stock index on Wednesday surged by the most in five years, led by gains for resource and technology shares, as investors cheered a sudden reversal by the U.S. on tariffs.

As markets tumble and fears grow over a global trade war in response to President Trump's tariffs, he has advised Americans to "be strong" and "hang tough."

Trump has promised higher rates for his latest and most severe volley of duties, which he calls “reciprocal” tariffs. With so many back-and-forth tariff actions and threats, it can be tough to keep track of where things stand.

President Donald Trump announced a 90-day pause on all tariffs except for those against China, which he said would now rise to 125%.

Global markets surged after President Trump abruptly backed down on imposing tariffs on most nations for 90 days.

The White House said tariff levels for most nations will be lowered to 10%. In a dramatic move Wednesday, President Donald Trump says he has authorized a 90-day pause in the higher tariffs for most countries he announced last week — while maintaining a 10% baseline tariff across the board.