China, which Trump announced will get hit with a 10 percent tariff starting Tuesday, will reportedly have a call with the White House soon. Early Tuesday, Beijing announced a 15 percent levy on certain types of coal and natural gas, and a 10 percent tariff on various vehicle parts, machinery, and crude oil.

Stock market returns under presidential administrations are more correlation than causation, regardless of what political pundits say.

GM, Ford and Stellantis stock plunged in initial trading Monday in light of a pending trade war. But Wall Street showed some resiliency later.

Major U.S. stock indexes opened lower Monday after President Donald Trump's tariffs on Canada, Mexico and China triggered a trade war.

U.S. stock futures and the dollar fell on Tuesday, while Hong Kong shares slipped from two-month highs, as the U.S. and China went tit-for-tat on tariffs and raised the spectre of a broader, damaging trade conflict.

Wall Street was mixed in light trading early Tuesday as anxiety dissipated somewhat after President Donald Trump agreed to a 30-day pause on his tariff threats against Mexico and Canada. Trump's imposed tariffs on China remained in place.