The US tariff pause announced by President Trump only applies to some tariffs and does not change the overall direction of US trade policy. The new 10% tariff rate on all imports from countries including the UK remains in place, with exemptions for certain goods. The pause does provide relief for some countries such as Vietnam, which had been facing a 46% tariff, but many other tariffs remain in place. Economists warn that the pause has not changed the overall direction of US trade policy and will still harm the global economy.

China has banned imports of Hollywood movies in response to President Donald Trump’s increased US tariffs on Chinese goods, while Europe has decided to pause its countermeasures against U.S. tariffs, giving negotiations a chance according to European Commission chief Ursula von der Leyen.

Christmas decoration suppliers in the US are struggling as orders from China have stopped due to tariffs. The trade war between the US and China has led to a halt in orders, which is crucial for Chinese producers of plastic Christmas trees and other festive decorations. As a result, US retailers may have limited or no access to these products, with 87% of Christmas goods worth $4 billion coming from China.

US stocks surged after President Trump announced a 90-day delay in tariffs for countries that hadn't imposed reciprocal tariffs, while raising tariffs on Chinese imports to 125 percent. The Nasdaq jumped over 12%, S&P 500 by 10%, and Dow by 7.9% - the biggest jumps since October 2008 during the Great Recession. Shares of companies like Nvidia, Apple, Microsoft, Walmart, Tesla, United Airlines, Delta Air Lines, and clothing retailers like Nike surged, with some stocks rising over 15%. The initial surge added trillions to the value of US stocks in just five minutes, providing a boost to Americans with investments in 401(k)s and indices.