2 reasons investors still need to worry about tariffs even as Trump's tone softens

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• Markets cheered news Trump could soften tariffs, but risks remain high, Goldman Sachs says.
• The tariff rate will likely be higher than investors are expecting, the bank says.
• The administration has said its reciprocal tariff plan will kick in on April 2.

The market may be headed for more bruising volatility after stocks rose sharply on the possibility of softer tariffs next month.

Goldman Sachs outlined...