Over in the UK, Prime Minister Keir Starmer has warned the economy is likely to struggle regardless of the tariff situation.
US President Donald Trump has adjusted every other tariff, except China's, to 10 percent for 90 days.
UK correspondent Enda Brady says it's clear negotiations between the UK and US are taking place behind the scenes - but the economy will still feel an impact.
LISTEN ABOVE
- US markets analyst unpacks why Trump may have paused the tariffs
- Rules on UK car production relaxed as a result of Trump tariffs
- Hungary withdraws from International Criminal Court, welcomes Netanyahu
- 'Frantic': How will the UK respond to Trump's new tariffs?
- UK bracing itself for Trump tariffs ahead of 'Liberation Day'
- Sir Keir Starmer, Donald Trump have 'productive' talk about tariffs
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