President Trump’s order continues a reprieve from the threat of escalating tariffs and export controls, which rocked the global economy earlier this year.

The president has lived up to his “TACO Trump” nickname by giving China a 90-day extension on increased tariff rates at the 11th hour. Tariffs as high as 145 percent were due to be implemented on goods from China at midnight Tuesday.

President Trump's executive order extends a reprieve from the threat of rising tariffs between the world's two largest economies.