Asian and European markets rallied in Thursday trading in response to President Donald Trump's dramatic decision to suspend planned tariffs on nearly all American trading partners for 90 days -- with the exception of China.

President Donald Trump announced a 90-day pause on all tariffs except for those against China, which he said would now rise to 125%.

President Donald Trump is pausing reciprocal tariffs but escalating the trade war with China. What it means for your wallet.

U.S. President Donald Trump said on Wednesday he authorized a 90-day pause as part of his tariff plan but was also raising the tariff rate for China to 125%, effective immediately.

Donald Trump says he is open to talks with Chinese President Xi Jinping after he hit China with an even higher tariff rate of 125% The US president has also announced a 90-day pause on the implementation of higher tariffs,

Canadian Prime Minister Mark Carney said Wednesday that negotiations with President Trump on the U.S.-Canada economic and security relationships will start after the Canadian federal election. “The pause on reciprocal tariffs announced by President Trump is a welcome reprieve for the global economy,

Traders on Wednesday sharply trimmed their bets on Federal Reserve interest-rate cuts after U.S. President Donald Trump said he was further increasing tariffs on China but pausing for 90 days the big tariff increases he had announced last week for most other countries.

Trump announced a 90-day tariff reduction to 10% for most countries but further jacked up the tax rate on Chinese imports to 125%.

President Donald Trump’s wide ranging “reciprocal” tariff policy went into effect at 12:01 a.m. on Wednesday, including 104% duties on goods from China, as well as various levies on imports from about 90 other U.