Trump has now rescinded many of the Tariffs imposed on Monday (while leaving them in place for China & countries that retaliated quickly & seeing the general 10% tariff).
Which leaves this looking more like a gift to investors who buy on the dips, given the immediate revival of share prices on the news of the step back from trade war.
Whether or not he (re)introduces tariffs, its likely that countries will be more wary about how Trump is managing the US's international relations.