(Reuters) -Traders on Wednesday sharply trimmed their earlier bets on a May start to Federal Reserve rate cuts after U.S. President Donald Trump said on Truth Social he was further increasing tariffs on China but pausing for 90 days the big tariff increases he had announced last week for most other countries.

Traders now see June as the far more likely start to U.S. interest-rate cuts than May, trading in interest-rate futures showed. They are still betting on a total of four rate cuts by the end of the year.