Trump's comments further pointed to a diminished appetite for sharply higher across-the-board tariffs on dozens of countries after markets reacted violently to their introduction on April 2.

Viral videos show U.S. shoppers turning to Chinese wholesale sites to dodge tariffs—with counterfeit concerns hot on their heels. President Trump’s trade wars have officially landed on TikTok.

The future of the popular video app is now at the center of a geopolitical tussle between Washington and Beijing.