Donald Trump touted a 90-day pause on his trade war with China, which will see both countries back away from sky high tariffs that had ground shipments to a halt. In a joint statement, the U.S. and China said that they would suspend their tariffs for three months as negotiations continue.

25% tariffs on imports from Canada and Mexico not covered under the 2018 USMCA trade agreement brokered during Trump's first term. The deal covers roughly half of all imports from Canada and about a third of those from Mexico, so the rest are subject to the new tariffs. Energy imports not covered by USMCA only will be taxed at 10%.

President Donald Trump said China "agreed to open itself up to American business" after they struck a deal to temporarily slash tariffs.