EU halts counter-tariffs but no pause in US-China trade war

The European Union (EU) paused plans for retaliatory tariffs on goods from the United States on Thursday after US President Donald Trump abruptly suspended higher duties on the bloc and other countries, leaving China in the crosshairs of his trade war.

Stocks in Asia and Europe joined a major rally on Wall Street after Trump said on Wednesday that he was halting steep tariffs on scores of nations for 90 days — though he kept a global baseline 10 per cent levy intact.

But Trump raised...