Asian economies are striving to avert Trump tariffs as they have hefty trade surpluses with the U.S. and levy much higher duties on imports from the country.

Gold shot to a record high and stocks were subdued on Tuesday as investors braced for further shifts in U.S. trade policy and waited to hear from Federal Reserve Chair Jerome Powell on tariffs and inflation.

Global shares are trading mixed, as investors found bargains despite worries about President Donald Trump’s tariffs.