Does the removal of a retention policy from a mailbox mark all items as untagged?

I have a mailbox on Exchange 2013 which has an archive. The default retention policy is applied which also contains a DPT to delete items after a specific time. 

Now, when I remove the archive and the retention policy for that mailbox, will items which have already been stamped to be deleted still be deleted or will the removal of the retention policy clear all existing stamped items so all items are again "untagged" and nothing is deleted anymore?