An eleventh-hour deal achieved President Trump’s political aims, but Wall Street remains concerned that tariffs will become a permanent threat in negotiations.

Some calm is returning to Wall Street, and U.S. stock indexes are making only modest moves after much of Europe and Asia rose earlier in the day.

U.S. stocks initially fell sharply on worries about President Trump’s tariffs but pared their losses after Mexico said it had negotiated a one-month reprieve.