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Donald Trump may have temporarily paused his trade war with China and other countries. But the extreme economic uncertainty unleashed by the president’s tariffs still raises the question of what, if anything,

The White House backed off from the steepest levies, as the costs of an all-out trade war with China threatened global economic growth.

Joe Janzen, an agricultural economist at the University of Illinois, said the commodity markets have largely shaken off the initial shock of the trade war, including Trumps’ declaration of April 2 as “Liberation Day,” when he announced stiff worldwide tariffs.

A measure of foreign direct investment in Europe sank to a nine-year low in 2024, underscoring the continent’s struggle to lure business even before US President Donald Trump’s trade war darkened the economic outlook.

Gold sold off in Asian morning trading on Monday after progress was reported between the US and China during weekend trade talks. Bullion fell 1.8 per cent to $3,265 per troy ounce following meetings between US Treasury secretary Scott Bessent and Chinese vice-premier He Lifeng in Geneva over the weekend.

The EU is weighing a temporary return to its pre-war trade agreement with Ukraine if a renegotiated deal is not ready to take effect when war-related tariff suspensions expire on June 5, EU diplomats said on Wednesday.

→ Trade war talk and bilat banter as B7 leaders gather in Ottawa. → The first Liberal MP to publicly call for Trudeau’s resignation has zero regrets. → MARK CARNEY ‘s ministry makes its first impressions in the West Block gauntlet.