While trade fears seemed to ease out of U.S. equities, bond prices were under pressure as the yields went higher across the board with the two-year Treasury note hitting a decade high to settle at 2.812. The benchmark 10-year yield ticked higher to 3.076 and the 30-year crept up to 3.225.

Per a report from MarketWatch, analysts say that “tariffs can have contradictory consequences for the bond market. If they stoke price pressures, bonds can suffer, but if the economy slows from weaker trade, then bonds can thrive.”

After the markets closed on Monday, the Trump administration announced it would be moving forward with imposing a 10% tariff on $200 billion worth of Chinese goods that includes a step-up increase to 25% by the end of the year. The administration moved forward with the tariffs despite both economic superpowers in the midst of scheduled trade talks to ease tariff tensions.

The list of goods affected by the new round of U.S. tariffs was apparently modified by the White House, which removed about 300 goods from an initial list that included smart watches, certain chemicals, bicycle helmets, high chairs, and other goods. Both the U.S. and China are said to have scheduled talks to address the latest trade issues later this month, but it is uncertain whether these new round of tariffs have put those purported talks on hold or abandoned altogether.

Related: China Responds to Latest Tariffs with $60B of their own on U.S. Goods

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