China now faces 125% US tariffs in trade war

In a dramatic change of policy, US President Donald Trump hikes China tariffs to 125% on goods entering the United States. Most other countries will now see a 90-day pause on higher import taxes.

The pause means a "universal 10%" tariff will be in place for all countries, other than China, the White House said.

Markets soared following the announcement with all three main US indices closing up more than 6%.

Throughout the program, Rahul Tandon will be joined by two guests: Emily Peck, Axios US Markets correspondent in New York, and Han Lin, The Asia Group China Country Director in Shanghai.