The president said he will impose tariffs Feb. 1 on products from Canada, Mexico and China, which together account for more than a third of U.S. trade

The likelihood of an all-out trade war may have receded but not the trade-related volatility as stocks climbed.

President Donald Trump said in an Oval Office signing ceremony Monday evening that his administration will impose 25% tariffs on Mexico and Canada on February 1, an extraordinary change in North American trade policy that could raise prices for American consumers.