Global markets still await policy changes amid mixed messages regarding the recent foreign tariffs implemented on imports to the U.S. from Canada, Mexico, and China.
Less than 24 hours after the duties were implemented, on Tuesday evening, U.S. Commerce Secretary Howard Lutnik mentioned that he believes President Trump will compromise with his North American counterparts on tariffs.
Lutnik made a statement which stunned investors, “I think he’s going to work something out with them. It’s not going to be a pause, none of that pause stuff, but I think he’s going to figure out, you do more, and I’ll meet you in the middle some way.”
The stock market reacted poorly to the tariffs on Tuesday, as the Dow dropped 1,300 points. Trump commented, “Tariffs are about making America rich again and making America great again. And it’s happening, and it will happen rather quickly. There’ll be a little disturbance, but we’re OK with that. It won’t be much.”
Today, President Trump is due to speak with Canadian Prime Minister Justin Trudeau and Mexican President Claudia Sheinbaum.
By CEO NA Editorial Staff
