Investors are digesting Trump's stiff tariffs on imports from more than a dozen countries and delayed the return of sweeping April levies.

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.