White House Announces Tariffs on Canadian, Mexican, and Chinese Goods
NEW YORK (Reuters) - President Donald Trump has imposed tariffs of 25% on imports from Canada and Mexico, and 10% on goods from China, effective Tuesday. The tariffs aim to address the national emergency posed by fentanyl and illegal immigration, according to White House officials.
Analyst and Investor Commentary:
Dustin Reid, Chief Strategist, Fixed Income, Mackenzie Financial, Toronto:
* Negative impact on equities and risk assets
* Tariffs will significantly impact US price levels
* Reciprocal tariffs likely
Mark Malek, Chief Investment Officer, Siebert Financial:
* Challenge to market's support for Trump
* Market uncertainty ahead
Rick Meckler, Partner, Cherry Lane Investments, Family Investment Office, New Vernon, NJ
* Generalized tariffs for social policy have historically proven unwise
* Skepticism and anxiety in the market
* Implementation delay suggests negotiating tactic
* Significant market reaction expected upon implementation