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For the past several weeks, we’ve written about the potential for a tariff reversal from President Trump—what some in our industry have dubbed, the “Trump Put.” On Wednesday at 1:18 p.m. ET, by Truth Social post, President Trump did just that—partially reversing his April 2 reciprocal tariff announcement by way of a 90-day pause on tariffs above the universal 10% rate for all countries, except China.