Analyst: "Pause" or "Reduce", Trump's words are vague

John Canavan, Principal Analyst at Oxford Economics in New York: From the way President Trump has phrased it, it's not entirely clear to us whether it's really a pause (of tariffs), or just a reduction of reciprocal tariffs to 10%. But in any case, it's clear that Trump has dropped some of the worst tariff threats here, and I think that's clearly a net positive that can be sustained for risk assets. One thing it hasn't done is remove the uncertainty that comes from the fact that tariff levels seem to change on a daily basis.