Watch President Trump hold his first Cabinet meeting at the White House amid market turmoil. Trump recently announced a 90-day reduction in tariffs for more than 75 trading partners that had refrained from retaliating over his sweeping duties. A base tariff of 10% will remain on most U.S. trading partners, however. The European Union said it was pausing its countermeasures to try to work things out with the Trump administration, while China has doubled down on its retaliatory duties and