U.S. stocks climbed Wednesday after President Donald Trump pulled back on some of his tariffs temporarily. The move revived hope on Wall Street that Trump may avoid a worst-case trade war that grinds down economies and sends inflation higher.

Donald Trump has introduced significant tariffs targeting major U.S. trading partners, marking a dramatic shift in trade policy.

Price spikes on your favorite goods could be coming, and your 401(k) could take a hit. But it’s important not to take action based on your fears.