Despite promising to swiftly impose tariffs from the beginning of his presidency, President Donald Trump did not immediately announce tariffs on U.S. imports, causing U.S. bond yields to fall early today.
Instead, President Trump delivered the “America First Trade Policy,” saying: “Americans benefit from and deserve an America First trade policy. Therefore, I am establishing a robust and reinvigorated trade policy that promotes investment and productivity, enhances our Nation’s industrial and technological advantages, defends our economic and national security, and, above all, benefits American workers, manufacturers, farmers, ranchers, entrepreneurs, and businesses”
Without outlining the percentages of immediate tariffs, the Trade Policy instead hinted at “appropriate measures, such as a global supplemental tariff, or other policies, to remedy such deficits.”
Following his inauguration, Trump avoided directly answering questions on a universal tariff, saying: “We may. But we’re not ready for that yet.”
Regarding the upcoming tariffs on Canada and Mexico, Trump mentioned that he was considering a 25% rate due to the “large number of people” and fentanyl that both countries are allegedly allowing into the U.S.
Following this comment, both the Canadian Dollar and Mexican Peso dropped in value.
By CEO NA Editorial Staff
