The US Wall Street stock market rose after showing positive performance at the beginning of the first week of June.
Major indexes strengthened, driven by President Donald Trump's action to raise tariffs on steel and aluminum imports from 25% to 50%, which took effect on Wednesday.
The Dow Jones Industrial Average rose 0.08%, the S&P 500 rose 0.41%, while the technology-focused Nasdaq rose 0.67%.
This situation occurred after Trump accused China of violating the last-minute agreement and acting unfairly in trade by imposing high tariffs, stealing intellectual property and manipulating the currency.
The Chinese government rejected Trump's accusations that Beijing violated the Geneva trade talks as baseless and vowed to act firmly to protect its interests.
Furthermore, Trump also said that higher tariffs would help ensure the survival of the US steel industry and prevent foreign producers from exploiting the weaknesses of existing tariffs.
Indirectly, the US-China tariff war is set to intensify again after various efforts were made to ease trade tariffs between the two world powers.
In other developments, the Trump administration also urged other countries to submit their best trade offers before Wednesday to speed up negotiations before the final five-week tariff.
The White House wants an offer that includes tariffs, industrial product quotas, digital trade commitments, economic security guarantees, the elimination of non-tariff barriers and country-specific obligations.
Investors are worried about trade tensions again after Trump announced plans to double steel and aluminum tariffs.
US stock market trading volume recorded $15.67 billion compared to an average of $17.8 billion over 20 full trading days.
