Yeh, everything gets smashed when markets fall, normally just the $US that rises i think.
Reducing oil and gas exports would be an escalation and result in a reaction from Trump imo.
Trump will not walk back the tariff's imo, he says they are his economic policy and i think they are, he seems to want to replace income taxes with tariff's and has set up an external revenue service or something. i Think he wants to do things similar as they did in the later 1880's from what i can tell.