SINGAPORE: “To the many investors coming into the United States and investing massive amounts of money, my policies will never change,” President Donald Trump posted on Truth Social days after announcing “Liberation Day” tariffs on Apr 2.

So much for that. His tariff policy did not last a week, let alone a lifetime. Just 13 hours after sweeping “reciprocal” tariffs came into effect on Wednesday (Apr 9), Mr Trump reversed course, rolling out a 90-day pause.

This still leaves the flat 10 per cent “universal” rate for most countries. And the tariffs on China remain.