The U.S. trade deficit narrowed significantly in April as President Donald Trump sharply escalated tariffs before pausing a large swath of the levies, U.S. Commerce Department data on Thursday showed.

The twists and turns in U.S. President Donald Trump's tariff policies have not only rattled global financial markets but have also taken investors on a roller-coaster ride. Companies are counting the cost of the trade war that is now being estimated at more than $34 billion in lost sales and higher expenses,