#TariffsPause The announcement of Donald Trump's so-called "reciprocal tariffs" on 2 April - what he called "liberation day" - sent a shockwave through the global trading system and financial markets.

The President's 90-day pause on some of these tariffs on 9 April set off a relief rally in stock markets.

But where has the rollercoaster of new US tariff announcements - and partial reversals - actually left the situation?

The announced pause only applies to some of the new tariffs - taxes on imports - that Donald Trump announced on 2 April.

The new minimum 10% tariff rate, which came into effect on Saturday 5 April, is still in place for goods coming from all countries, including the UK.

There are exemptions for pharmaceuticals and microchips and some other items.

But that 10% tariff in itself is a major change in America's trading relations with all other countries.