Live from NPR News in Washington, I'm Jack Spear.

To put it in perspective, today's announcement by the Trump administration, it's putting

in place a global pause on new reciprocal tariffs against most countries sent U.S. markets

to some of their biggest one-day gains in history.

The Dow, the NASDAQ, and the S&P all soared on the news. The Dow was up nearly 3,000 points, a gain of 7.87%. The NASDAQ rose 12%. The S&PE was up 9.5%.

In an escalation, President Trump is upping tariffs on Chinese imports, but as mentioned, he is pausing

steep new tariffs he'd imposed under their nations, at least for the next 90 days.

In the meantime, imports from all over the world will still face a 10% across the board tax.

And P.R. Tammer Kreeh reports it marks a sharp reversal for the president.

In a post on social media, Trump said the pause would allow time to

negotiate new trade deals with dozens of countries. This came just a day after the White House

insisted the president wasn't considering a pause. And just hours after Trump implored people to

stay cool while markets continued a multi-day free fall.

Treasury Secretary Scott Besant explained the shift this way. It has brought more than 75 countries forward to negotiate.

It took great courage, great courage, for him to stay the course until this moment.

Bessent said Trump wants to be personally involved in negotiating bespoke trade deals with each country.

Tamara Keith, NPR News.

The administration is backing off plans to impose export controls on semiconductor chips popular in China,

morphed MPR's Bobby Allen.

Chip industry analysts were expecting the Trump administration to announce new curbs on a chip known as the H20.

The most advanced

chip U.S. companies can legally sell to China. But the California-based maker of the chip NVIDIA

...