Two days ago, talk of a 90-day pause on Donald Trump’s ‘reciprocal tariffs’ was branded ‘fake news’ by the White House. But yesterday, the President confirmed a 90-day pause on the higher tariff rates on all countries apart from China. There is some confusion about whether this was The Donald's plan from the start – although the safe assumption is that it wasn't, and that someone senior in the White House sat him down and explained the market chaos he has caused. Is this 'the art of the deal’?

Regarding China, the President wrote: ‘Based on the lack of respect that China has shown to the World’s Markets, I am hereby raising the Tariff charged to China by the United States of America to 125 per cent, effective immediately.’ This is an increase on Trump’s part from the 104 per cent levy, which China countered with an 84 per cent tariff on American imports. What should we expect from the US–China trade war?

Katy Balls speaks to Cindy Yu and Kate Andrews.

Produced by Cindy Yu and Oscar Edmondson.