Today, U.S. futures declined as Wall Street shifted away from risk-taking, while President Donald Trump continues to implement new import tariffs.
Trump announced new sweeping tariffs on Wednesday, set to take effect within the next month or sooner, adding levies on lumber and forest products in addition to automobiles, pharmaceuticals, and chips.
“I’m going to be announcing tariffs on cars and semiconductors and chips and pharmaceuticals, drugs and pharmaceuticals and lumber, probably, and some other things over the next month or sooner,” Trump said at a conference in Miami.
As geopolitical tension bubbles, gold hit an all-time high of $2,947.23 as investors continue to seek out safe-haven assets.
Markets are concerned that President Trump’s “quick” peace deal between Russia and Ukraine appears to have lost its momentum. Additionally, Trump’s remarks on Wednesday, in which he referred to Ukrainian President Volodymyr Zelenskiy as a “dictator,” have sent shockwaves through international communities.
Fears remain over whether Trump could abandon American support for Ukraine after the President commented Zelenskiy had “better move fast” to reach a deal with Russia “or he is not going to have a country left.”
By CEO NA Editorial Staff
