Financial markets have soared after US President Donald Trump announced a 90-day "pause" on the tariffs against countries who have not retaliated against the US.
The pause means a "universal 10%" tariff will be in place for all countries, other than China, White House Press Secretary Karoline Leavitt confirmed.
The White House also said it was introducing a 125% tariff on China "effective immediately”.
The NASDAQ index went up 9% and the S&P 500 index rose 8% following the news.
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