Donald Trump backed down on some of his largest tariffs Wednesday afternoon, though the trade war is far from over and the US is still imposing major levies on Chinese goods and a 10% tariff on the vast majority of its other imports.
All imports are subject to 10% tariffs, with higher tariffs still in place for certain industries like steel, aluminum and cars. As of Wednesday, the president put a 125% tariff on all Chinese imports.
