On the "Truth Social" site, the American president raised tariffs on imported Chinese goods to 125% "effective immediately". He also announced a temporary suspension of tariffs exceeding 10% for 90 days - on most countries, except China, Canada, and Mexico.

Despite the European Union voting in favor of retaliatory tariffs against the United States, the same basic tariff of 10% imposed by other regions will apply.

His softening of stance led to a rise in markets after days of uncertainty.

There may be further developments ahead, after Trump stated his openness to a conversation with the Chinese president: "We will receive a phone call at some point, and then we will launch."

China has yet to respond to the high tariffs, but it now seems that Trump leans towards a trade war, as our correspondent Anthony Zurcher wrote.