Experts call Trump's raft of tariffs "worse than the worst-case scenario." There's been a pause and exemptions -- with things moving fast, here's what to know.

California on Wednesday filed a lawsuit seeking to block U.S. President Donald Trump's sweeping tariffs on foreign trading partners, accusing him of abusing his powers and inflicting financial harm on the state and nation.

Levies are currently set at a blanket 10%, down from rates set as high as 49% on Cambodia and 46% on Vietnam. With the latest exemptions, the effective rate on Vietnamese goods will fall to about 7% as close to a third of its exports to America, largely technology products, are exempt.