Trump Announces 30% Tariffs On EU And Mexico
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President Trump is pushing through with his tariff agenda, unveiling a new batch of letters to country leaders outlining tariffs on goods imported from their countries beginning in August and a warning to BRICS nations.
The president’s supporters portray him as a top dealmaker. But, at least for now, far more trading partners have gotten stiff tariffs than trade deals.
President Donald Trump posted letters to the leaders of Mexico and the European Union, saying they had not done enough to head off the new tariffs.
That new tariffs are on the way is less important than their final shape. The problem is, nobody seems to know what that will be.
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Canada faces another set of tariffs in its ongoing trade talks with the U.S. However, in this latest round of tariff announcements, investors have learned to largely tune them out as negotiating bluster rather than policy commitments.
Trump and his aides have repeatedly shifted their stance on tariffs since the president’s “Liberation Day” announcement.
Trump’s move deepens a rift between two North American countries that have suffered a debilitating blow to their decades-old alliance.
Markets may face turbulence as Trump pushes US re-industrialization, with bubble-like S&P500 valuations signaling a potential selloff ahead. See more here.