Donald Trump: "The tariffs scheduled to be implemented by the U.S. on Monday, against Mexico, are hereby indefinitely suspended."

U.S. manufacturers said the tariff, set to take effect June 10, would have devastating consequences on them and American consumers. U.S. stocks tumbled on Wall Street in response to Trump’s planned action.

Donald Trump approved tariffs on imported solar-energy components and large washing machines in a bid to help U.S. manufacturers.