U.S. President Donald Trump announced a temporary suspension of tariffs on more than 75 countries for a period of 90 days, excluding China, which saw an increase in tariffs to 125 percent. This decision came after concerns about the impact of tariffs on financial markets, as stocks experienced a significant rise following the announcement. Trump indicated that this suspension aims to open the door for trade negotiations with the affected countries, while tariffs continue on specific industries such as steel, aluminum, and automobiles.