Donald Trump's second term economic plan can be summed up in one word: tariffs. When his barrage of these import taxes went into overdrive a month ago, markets trembled and business leaders sounded alarms about the economic damage they would cause.

Canada's main stock index rose on Monday as the United States and China reached a deal to reduce tariffs, boosting investor optimism and easing fears of an all-out trade war disrupting global markets.

Trump and his aides have repeatedly shifted their stance on tariffs in the weeks since the president’s “Liberation Day” announcement.