The U.S. is removing some items from the China tariff list and is delaying tariffs for other items.
It is the latest move by the U.S. in the ongoing trade feud between the two countries.
Products on the tariff delay list include cell phones, laptops, video game consoles, and computer monitors.
Tariffs on these items were initially set to go into effect on September 1st, but will now go into effect on December 15th.
The Stock Market has been reacting to the news, as the Dow Jones Industrial Average has been trading up over 500 points at times.
The Nasdaq and S&P 500 are also surging on Wall Street.
Last week, the dow dropped 500 points after President Trump threatened another 10 percent hike in tariffs on $300 billion in goods from China.
The move was opposed by retailers and manufacturers who were worried about the holiday shopping season.
President Trump was pressed Tuesday about the latest tariff rollback and said he chose the delay because of the”Christmas season, just in case some of the tariffs would have an impact” on American consumers.
He then reiterated that his tariffs have had virtually no impact on Americans thus far.