President Donald Trump has decided to delay the implementation of new tariffs on China for the time being.
Instead, he has asked his administration to review global trade issues and look at previous trade agreements with China.
The move is part of his plan to boost American industry and reduce dependence on foreign countries.
Trump wants government agencies to address unfair currency practices by other countries.
Some countries like China devalue their currencies to attract more countries to trade with them, making U.S. goods more expensive and forcing other countries to pay more for them.
He wants to put America ahead of the curve on trade policy and ensure fair competition.
While Trump was vocal about tariffs during his campaign, his decision to delay immediate action suggests he may be open to negotiating with China.
Analysts say Trump could change his mind and bring the tariffs back at any time.
Trump also wants to review the United States-Mexico-Canada Agreement (USMCA) to see if it benefits American workers.
The US dollar was seen falling after Trump announced a delay in the implementation of tariffs, in contrast to the stock market which was seen rising.
