Trump announced that he authorized a 90 day pause on the lofty tariffs and a “substantially lowered reciprocal tariff during this period, of 10%, also effective immediately” in a post on Truth Social Wednesday afternoon, ending days of speculation around whether or not the tariffs would actually go into effect or were negotiable.

The White House continues to defend President Donald Trump's tariff policies while critics say it's been a chaotic rollout.

Trump may have hit the brakes on reciprocal tariffs levied against many of the US’ top trading partners, but the duties imposed on China will reach a staggering 145% on certain goods.