The dollar rose, while safe-haven gold prices fell as the news eased - but did not erase - concerns that Trump's trade war could crater the global economy. Trump and his allies hailed the agreement as proof his aggressive tariff strategy was paying dividends, after the US struck preliminary pacts with Britain and now China. Small businesses and truckers were girding for major repercussions from the China tariffs, while American consumers worried about rising costs. Markets shuddered in response, and last month Trump quickly paused most of his "reciprocal" tariffs on dozens of countries, except China. The remaining US tariffs on Chinese imports are still stacked atop prior duties.
