#TariffsPause President Donald Trump announced a total three-month pause on all 'reciprocal' tariffs that took effect at midnight, with the exception of China, a surprising change of stance from a president who had insisted that historically high tariffs were here to stay.

However, the huge tariffs on China, the second-largest economy in the world, will remain in place. In fact, Trump announced that they will be increased from 104% to 125% after China announced additional tariffs in retaliation against the United States on Wednesday. All other countries that were subject to reciprocal tariffs on Wednesday will see their rates reduced to 10%, he stated.