Shares of retailers jumped Tuesday after the United States Trade Representative announced it was delaying proposed tariffs on clothing, footwear and a number of other items until Dec. 15.

Stocks including Guess, Abercrombie, American Eagle, and Chico’s were all up 5% or more following the news.

Department store stocks including Macy’s and Nordstrom also rose more than 3%. Ahead of the announcement both Macy’s and Nordstrom had both hit 52-week lows in trading. 

Additional tariffs were expected to impact a range of consumer goods effective Sept. 1. President Donald Trump announced last month that he would ratchet up the trade war with China and impose 10% tariffs on an additional $300 billion worth of Chinese goods.

The S&P Retail ETF (XRT) was up more than 3%, putting it on pace for its best day of the year. 

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