It's looking more and more likely that Donald Trump is laying the groundwork for a u-turn on the tariffs implemented on Chinese goods.

Tariffs are currently sitting at 145 percent - but Trump recently claimed they'll 'come down substantially, but it won't be zero'.

Former NZ ambassador to the US Tim Groser says it's unclear what will happen next - given all the uncertainty Trump's economic policies have created.

LISTEN ABOVE

• ‘Rough day ahead’: NZ stocks dip in US tariffs market meltdown
• 'Tariff wars miss the point': Zuru co-founder Nick Mowbray criticises US tariff plan
• ‘A zero tariff situation’: Musk calls for Europe-US free-trade zone after Trump unleashes plans
• 'Do your job': Newsom challenges Congress over Trump's tariff policy
• Trump says ball in China’s court on tariffs
• Trump downplays tariffs walk-back, says no country 'off the hook'
• 'Significant global event': Willis calls for calm as Trump pauses tariffs