#TariffsPause As the dust began to settle after higher tariffs came into effect, Trump switched up the game again.

Taking to Truth Social, the US president increased tariffs on Chinese imported goods to 125% "effective immediately". He also announced a 90-day pause on tariffs above 10% - for most countries, except China, Canada and Mexico.

The EU, despite voting for retaliatory tariffs against the US, will face the same 10% baseline tariff as other regions.

His softened stance meant markets surged after days of uncertainty.

There could be more developments to come, now that Trump has said he is open to a conversation with Chinese President "We will get a phone call at some point and then it's off to the races."

China has yet to respond to the higher rate, but right now it seems like Trump is leaning into a trade war, our correspondent Anthony Zurcher writes.