President Trump announces 90-day pause on most new tariffs, but raises China's up to 125%

Facing a global market meltdown, President Donald Trump on Wednesday abruptly backed down on his tariffs for most nations for 90 days — but raised his tax rate on Chinese imports to 125%. U.S. markets surged in response to the reversal. The S&P 500 soared 9.5% for its biggest one-day gain since 2008. NBC10’s Lauren Mayk has the details.