Stock trading appeared to stabilize late Monday after several days of volatility triggered by President Donald Trump’s sweeping tariff announcements.

The initiation of trade negotiations between the United States and Japan helped buoy stock prices amid hopes that the tariffs—announced last week during Trump’s “Liberation Day” Rose Garden event—might ultimately be avoided, according to Reuters.

Japanese shares were particularly strong, with the Nikkei index closing up 6% on Monday. Earlier that morning, Trump announced that he had spoken with Japanese Prime Minister Shigeru Ishiba about opening trade negotiations.

“Countries from all over the World are talking to us. Tough but fair parameters are being set. Spoke to the Japanese Prime Minister this morning. He is sending a top team to negotiate!” Trump posted on Truth Social on Monday morning.

U.S. Treasury Secretary Scott Bessent is set to lead negotiations with Japan over tariffs, reports noted.

“Importantly, a little ray of sunshine is starting to emerge that gives hope that the U.S. is genuinely open to trade negotiations, [with] the most significant being Japan with Treasury Secretary Bessent,” Tapas Strickland, the head of market economics at National Australia Bank, told Reuters.

Stock indexes across Asia, Europe, and the United States showed positive signs amid growing optimism that the White House is open to negotiations.

In additional good news for Japan, Trump signed an executive order on Monday that reopens the potential acquisition of U.S. Steel by Japan’s Nippon Steel. The order grants the U.S. Committee on Foreign Investment 45 days to review the agreement and provide a recommendation.

“I direct the Committee on Foreign Investment in the United States (CFIUS) to conduct a review of the acquisition of U.S. Steel by the Purchasers to assist me in determining whether further action in this matter may be appropriate,” the order says in part.

Former President Joe Biden blocked the nearly $15 billion deal in January, and at the time, Trump agreed with the decision. He had previously pledged to stop the deal and prevent U.S. Steel from being “bought by a foreign company.”

In February, Trump appeared to be more receptive to the possibility when he said he would be open to Nippon Steel investing in U.S. Steel, although he maintained his opposition to outright foreign ownership.