The Globe and Mail reports in its Saturday, July 5, edition that after President Donald Trump imposed heavy tariffs in April, he announced a three-month pause to July 9. The Globe's Mark Renell writes that the administrations mantra was "90 deals in 90 days." Thus far, the Trump administration has only signed three agreements. On Thursday, Mr. Trump said he would start sending letters to countries that had failed to reach an agreement with the White House, dictating tariffs as high as 70 per cent that would come into force in August. The Globe says the situation is combustible. Financial markets, however, have remained stable despite trade uncertainties, with equity markets recovering from a recent slump and reaching record highs. Former Goldman Sachs strategist Robin Brooks notes the positive response is due to the U.S.-China trade detente and strong U.S. economic data, countering earlier recession fears. He says that as long as the U.S. and China avoid resuming their trade war, markets may overlook any trade issues with the EU or Japan. However, repeated fluctuations from President Trump could unsettle markets again, as seen in April when chaos perceptions led to a market downturn.