U.S. President Donald Trump on Thursday signaled a potential end to the tit-for-tat tariff hikes between the U.S. and China that shocked markets, and that a deal over the fate of social media platform TikTok may have to wait.

When US President Donald Trump hit China with tariffs in his first term, Vietnamese entrepreneur Hao Le saw an opportunity. His company is one of hundreds of businesses that have emerged to compete with Chinese exports that have increasingly been facing restrictions from the West.

China now faces U.S. tariffs of up to 245%, the White House said last night as it unveiled a probe into critical minerals. But that total appears to apply only to two types of goods—electric vehicles and syringes—and isn’t new.