(fxcue news) - European stocks are likely to open on a positive note Tuesday despite lingering trade war concerns. U.S. President Donald Trump promised he will be 'very kind' to trading partners on April 2 but critics warn that his strategy risks a global trade war, provoking retaliation by major trading partners like China, Canada and the European Union. Already, China, South Korea and Japan agreed Sunday to strengthen free trade between themselves. Asian markets were mostly higher despite lingering uncertainty over what Trump will do on "Liberation Day." Goldman Sachs economists expect Trump to announce an average 15 percent. reciprocal tariff. They also raised their forecast for inflation and lowered it for U.S. economic growth for the end of the year. There was some cheer on the data front as a private survey showed China's manufacturing sector expanded at the fastest pace in four months in March. The dollar was soft after a bruising quarter. Gold scaled a new record high and hovered near $3,150 per ounce. Oil steadied at an over one-month high as Trump threatened Russia with tariffs and vowed to continue strikes on Yemen's Houthi rebels until they no longer pose a threat to global shipping. He also issued a stern warning to Iran, stating that the "real pain is yet to come." U.S. stocks saw wild swings before ending mixed overnight on concerns about the economic impacts of tariffs. The Dow jumped 1 percent and the S&P 500 added 0.6 percent but posted their worst quarterly performances since 2022 on uncertainty around the Trump administration's economic agenda. The tech-heavy Nasdaq Composite slid 0.1 percent. European stocks fell sharply on Monday, with tariff worries and France's political turmoil keeping investors' risk appetite in check. The pan European STOXX 600 declined 1.5 percent. The German DAX fell 1.3 percent, France's CAC 40 gave up 1.6 percent and the U.K.'s FTSE 100 shed 0.9 percent.