U.S. stocks are slipping modestly Tuesday after President Donald Trump announced 25% tariffs on all foreign steel and aluminum coming into the country.

The reciprocal approach leaves plenty of room for the U.S. to negotiate tariff cuts by each of America’s trading partners separately.”

NEW YORK — The threat of a punishing trade war sent Wall Street on a roller coaster Monday. After initially falling sharply on worries about President Donald Trump’s tariffs , U.S. stocks pared their losses after Mexico said it had negotiated a one-month reprieve .

President Donald Trump’s desire to get even on countries by matching tariffs they have on American goods could come at a steep cost.

President Trump has continued his threats to place reciprocal tariffs on countries that impose tariffs on the United States.

The inflation impact of the tariffs depends on how Trump approaches the measures, but it could be as much as a 0.5 percentage-point increase, according to Deutsche Bank.