In a significant move, US President Donald Trump has announced a temporary ceasefire on tariffs with most countries for a period of 90 days, except for China. This decision comes amidst a global market meltdown and increasing concerns over the impact of the trade war on the world economy. Economists have been vocal about the potential risks of the tariffs, warning that they could lead to a recession and drive up prices. Trump’s decision to hold off on increasing tariffs on most nations is seen as a positive step towards de-escalating trade tensions. However, the decision to raise tariffs on Chinese imports has raised eyebrows and is likely to further strain relations between the two economic powerhouses. The announcement has been met with mixed reactions from market participants, with many hoping for a more permanent solution to the ongoing trade disputes. The next 90 days will be crucial in determining the future of global trade relations, as countries look to find common ground and avoid a full-blown trade war.