Trump's comments further pointed to a diminished appetite for sharply higher across-the-board tariffs on dozens of countries after markets reacted violently to their introduction on April 2.

The White House’s effort to force a divestiture of TikTok’s US operations has reportedly collapsed, at least for now, after Beijing refused to approve a proposed deal. The abrupt reversal results from a tariff-for-tariff standoff between Beijing and Washington,