Less than 24 hours after they came into effect, US President Donald Trump has placed a 90-day pause on the so-called reciprocal tariffs he had imposed on 75 countries. Now, only China is going to face a higher rate – up from the 104% Trump had announced earlier to now 125% – while all other countries face a blanket 10% rate.In this conversation with The Wire’s Jahnavi Sen, The Wire’s founding editor M.K. Venu and national affairs editor Sangeeta Barooah Pisharoty explain the role bond markets played in this policy reversal. They also talk about the situation in Manipur today, after the first attempt at peace talks organised by the Union home ministry ended without any kind of agreement.