President Trump paused his plan to increase tariffs on countries around the world, with the exception of China, a dramatic reversal after days of market turmoil that led to a surge of relief on Wall Street.

“If China does not withdraw its 34% increase above their already long term trading abuses by tomorrow, April 8th, 2025, the United States will impose ADDITIONAL Tariffs on China of 50%, effective April 9th,” Trump wrote on Truth Social. “Additionally, all talks with China concerning their requested meetings with us will be terminated!”