From China to Europe, Canada to Mexico, world markets are already reeling from Donald Trump's promise to jack up tariffs when he becomes U.S. president in less than two weeks.

European and US stock markets mostly rose following a report Monday the incoming Trump administration will apply tariffs only on certain sectors, while the dollar was mostly lower against rival

The U.S. dollar was close to a one-week low on Tuesday as markets await U.S. economic data while assessing whether President-elect Donald Trump's policies on tariffs will align with his rhetoric. Investors have been pricing in a scenario where the implementation of widespread tariffs could boost U.