India, April 10 -- President Donald Trump on Wednesday announced that he has authorized a 90-day tariff pause for all countries, except China. The 78-year-old added that he is increasing the tariffs on China to 125%. Explaining the reason behind his sudden U-turn, the president said people were 'getting yippy and afraid'.

Treasury Secretary Scott Bessent told reporters that the pause was not a result of the stock market tanking, but because other countries are seeking negotiations. About an hour later, Trump was asked why he announced a pause.

"Well, I thought that people were jumping a little bit out of line," Trump told reporters at the White House. "They were getting yippy, you know, they were getting a little bit yippy, a little bit...