It was President Trump’s metals tariffs, ironically, which eased Wall Street’s concerns that the duties he wants to impose on Chinese imports would provoke a trade war between the planet’s two biggest economies.

Or more precisely, his handling of the tariffs, which morphed from universal levies of 25 percent on steel imports and 10 percent on aluminum to more-nuanced charges with temporary exemptions for partners including the European Union, Canada, Mexico, and South Korea.

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