Markets sink as Trump confirms tariffs on Canada, Mexico and China
President Donald Trump is moving forward with 25% tariffs on goods imported from Canada and Mexico into the US, saying that time had run out to reach a deal. US stock markets sank in response to the measures, which have been threatened since earlier this year and are due to go into effect on Tuesday.
His comments quickly rattled the U.S. stock market, with the S&P 500 index down 2% in Monday afternoon trading.
Those tariffs — if they get imposed — could increase costs for Americans at a time when inflation remains stubbornly high. That, in turn, could prevent the Federal Reserve from lowering borrowing ...
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