President Donald Trump's recent announcement to increase tariffs on imported steel and aluminum from 25% to 50%, effective June 4,

The so-called TACO trade will be tested as markets wait to see if Trump will actually follow through with his 50% steel duty or if he will put it on hold soon.

Homebuilder stocks rallied on Thursday, in a sign that residential construction will benefit from the ruling striking down Trump's tariffs.

Trump can still keep his trade war going and send market volatility soaring even if his agenda hits legal roadblocks, market experts said.

Now, with large tariffs implemented on imports from China, Apple has begun to move some of its manufacturing to India in order to hedge its bets. However, this caught the ire of Trump, who said that Apple will face a 25% tariff on iPhone imports and that the products should be made in the United States in order to reshore manufacturing.

The major indexes rose to key levels last week amid Trump tariff news. Palantir, Broadcom and CrowdStrike are in buy areas. Tesla and Nvidia fell back.

US stocks end little changed after Trump says China violated tariff terms. Administration maps new curbs. Investors shrug off cooler inflation data.

Investors may not be fans of stock market volatility, but that doesn't bother President Trump. His back-and-forth trade and tariff war updates have sent stocks on a roller coaster ride since he announced tariffs on Canada,