The Dow Jones Industrial index ditched 148.2 points to 44,588.37.
The much-broader index moved forward 22.54 points to 6,009.91.
The NASDAQ Composite gained 100.47 points to 19,155.31.
Trump on Monday night called for a 25% tariff on products from Mexico and Canada, as well as an additional 10% levy on Chinese goods. He has already said he would impose a tariff of up to 20% on all imports, and an additional duty of at least 60% on products from China.
To be sure, Wall Street appeared to be taking the news in stride.
While stocks were mixed, some individual names and funds moved as investors analyzed potential impacts from the policies Trump discussed. Automakers Ford gave back 1% and General Motors slid more than 7%.
Investors will monitor Federal Reserve meeting minutes due out at 2 p.m. ET for insights into the path of monetary policy.
Prices for the 10-year Treasury eased back, raising yields to 4.31% from Monday’s 4.26%. Treasury prices and yields move in opposite directions.
Oil prices recouped 44 cents to $69.38 U.S. a barrel.
Prices for gold perked $9.20 an ounce to $2,627.80 U.S.