The broader market’s relative apathy has been surprising, given the rise in tariff levels and trade uncertainty impacting $3.2 trillion in U.S. imports.

Global markets shrugged off the news, however, with both Asia-Pacific and Europe stocks staging a muted response Tuesday. One reason is likely to be because of Trump's seemingly more flexible approach to the new policies.

The stock market was largely unfazed by the end of TACO Tuesday, with world markets largely unbothered by Trump's Monday announcement of a wave of new tariffs against 14 countries