Trump has executed his usual playbook of making an extreme demand and then settling on what he really wanted and everyone claims he backed down:

U.S. President Donald Trump on Wednesday lowered “reciprocal” tariffs on South Korea and other trading partners to 10 percent in what he called a pause that will last for 90 days, while increasing duties on China to 125 percent following China’s retaliatory move.
In a social media post, Trump made the announcement as reciprocal tariffs went into effect on the day, with dozens of countries striving to negotiate deals over new levies. Last week, his administration unveiled 25 percent tariffs on South Korea, 24 percent on Japan and 20 percent on the European Union, to name a few.
You can read more at the link.