Many of Thursday's papers lead on President Donald Trump suspending his slate of punitive tariffs while singling out China.
The Financial Times says Trump showed the "first signs of retreat" when he ordered his 90-day pause.
For the Times, Trump performed a "dramatic U-turn" when he said he wanted "fair deals with everyone". The paper says it was a radical change in tone from the night before, when he told Republican senators that countries were "kissing my ass".
The main editorial in the Daily Mail says the president's mind may have been changed by a fire sale in US government bonds.
"Donald Ducks" is the Sun's headline.
"Great WAR of China" is the Daily Mirror's, as it describes Trump as "erratic" and "making a new gamble", with his elevated 125% levy on Chinese goods.
The Daily Telegraph's leader column says Trump is taking the world on an increasingly bizarre and dangerous rollercoaster ride. The paper warns of "considerable implications" for UK pensions and mortgages if turmoil on the bond markets continues to push up government borrowing costs.
The i Paper reports that ministers are considering bringing forward announcements planned for the Spending Review in June aimed at protecting the steel, medicines and car industries.
The Daily Express leads on the Conservative leader Kemi Badenoch urging the prime minister to, in the paper's words, 'maximise the UK's Brexit freedoms', in the face of global economic turmoil. In an interview with the Express, Badenoch says Labour appears to be "just sitting back and letting it happen" instead of reaching out to countries in a Pacific trading bloc, whose British membership she negotiated as a minister.
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