The TSX Composite Index popped 199.04 points to 26,078.99.
The Canadian dollar gained 0.05 cents to 72.84 cents U.S.
The sweeping tariffs imposed by Trump since April 2 and the subsequent pauses on some of them have generated uncertainty among investors and companies globally.
Global market sentiment had steadied after Washington's fresh deal with the U.K. and a temporary agreement with China, but Trump's latest move was a reminder that the tariff storm isn't over.
Mining giant Barrick dipped nine cents to $26.09.
Merchandizing concern Canadian Tire was higher 24 cents at $168.27.
Energy stocks gained, though oil prices were about flat. IPCO soared 49 cents, or 2.5%, to $19.78, while those for Veren Inc. climbed 34 cents, or 3.7%, to $9.14.
ON BAYSTREET
The TSX Venture Exchange gained 6.89 points, or 1%, to 693.65 to pause for lunch Monday.
All 12 TSX subgroups maintained gains into the afternoon, led by information technology, ahead 1.3%, real-estate, up 1.2%, and consumer discretionary stocks, better by 0.9%.
Oil prices slipped three cents to $61.56 U.S. a barrel.
Gold dropped $28.00 to $3,337.80
ON WALLSTREET
Indexes in the U.S. are closed Monday for Memorial Day.
Holiday Shutters American Markets
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