Markets whipsawed further Friday in response to President Donald Trump’s latest comments on tariffs, with stocks briefly turning higher after he hinted that there may be “flexibility” in his plan to impose blanket tariffs on most U.S. trading partners next month before retreating back into the red.

A strong proponent of tariffs, Trump emphasised that he had not changed his stance, even though he had previously granted top automakers a one-month exemption from an earlier round of import duties in March.