US President Donald Trump has released details on the implementation of mutual and sector-specific tariffs.
Trump’s statement is: (it will be updated when they come):
Trump has previously imposed tariffs on certain sectors, including China, Canada and Mexico, and has a 25% obligation on automobile imports. The latest measures are expected to further restructure US trade ties with key global partners.
The stock was volatile prior to the announcement, with key indexes fluctuating throughout the session. The S&P 500 rose 0.2% after swinging between profit and loss. The index increased by 1.1% at peak times and dropped to the same amount when sessions were low.
Despite the small profits, analysts warn that market relief could be short-lived. “The “relief” bounce could be short-lived as the absolute impact of the trade agenda remains clearly negative and there is a risk of downward pressure on growth/revenue and rising inflation.”
