Stocks curb losses after Trump’s tariffs on Canada, Mexico and China
U.S. stocks are volatile after President Trump imposed tariffs on Canada, Mexico and China over the weekend. FOX Business is providing real-time updates on the markets, commodities and all the most active stocks on the move.
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The Dow Jones Industrial Average pared losses on Monday after President Donald Trump announced he would pause tariffs on Mexico.
Still, the 30 member benchmark closed down over 122 points but curbed a 600+ point deficit from earlier in the session. The Nasdaq Composite lost over 1%, while the S&P 500 closed down 0.76%.
Symbol | Price | Change | %Change |
---|---|---|---|
I:DJI | $44,421.91 | -,122.75 | -0.28 |
SP500 | $5,994.57 | -45.96 | -0.76 |
I:COMP | $19,391.96 | -,235.49 | -1.20 |
Trump placed tariffs of 25% on imports from Canada and Mexico, and 10% on China over the weekend, causing concerns over how they will affect the global economy.
Mexico has agreed to deploy 10,000 troops to the U.S.-Mexico border in exchange for a one-month delay on President Donald Trump's threatened tariffs, Mexican President Claudia Sheinbaum said Monday.
As of Tuesday, when the U.S. tariffs take effect, Canada will impose 25% duties on about $21 billion of American goods with a further $86 billion to follow within 21 days to allow Canadian companies and supply chains to find alternatives, Trudeau told reporters at a news conference on Parliament Hill in Ottawa, surrounded by his foreign affairs, finance and public safety ministers.
He said the Canadian tariffs on U.S. imports will cover a "far-reaching" range of products, including American beer, wine, bourbon, fruits and fruit juices, vegetables, clothing, shoes, household appliances, furniture, sports equipment, lumber, plastics, "along with much, much more."
In Trump’s executive order issued on Saturday, Canadian energy resources will face a lower 10% tariff.
This is an excerpt from an article written by FOX Business' Christopher Guly.
Bitcoin, the largest cryptocurrency by market value, fell below $100,000 on Monday before rebounding following a pause on tariffs with Mexico. Stocks also curbed some of their earlier losses.
President Donald Trump imposed tariffs on Canada, Mexico and China over the weekend.
Two of the countries , Canada and Mexico, kicked into defense mode, retaliating against the U.S. with levies of their own before Mexico reached a temporary agreement with Trump.
A new analysis by the Budget Lab at Yale said the average U.S. household would lose the equivalent of $1,170 in income from Trump's new tariffs, according to The Associated Press. Economic growth would slow and inflation would worsen, and the economic impact could become even worse with retaliation from other countries.
The order would also allow for tariffs on Canadian imports of under $800. Imports below that number, according to The Associated Press, are currently allowed to cross into the U.S. without customs and duties.
This is an excerpt from an article written by FOX Business' Landon Mion.
Mexico has agreed to deploy 10,000 troops to the U.S.-Mexico border in exchange for a one-month delay on President Donald Trump's threatened tariffs, Mexican President Claudia Sheinbaum said Monday.
Sheinbaum made the announcement on social media Monday morning, roughly 12 hours before the tariffs were set to take effect. Trump and Sheinbaum spoke on Monday and agreed that Mexico will do more to combat drug trafficking into the U.S., and that the U.S. will step up efforts to block the flow of firearms into Mexico.
Trump confirmed the deal in his own post on Truth Social, describing the call with Sheinbaum as a "very friendly conversation."
This is an excerpt of a story by Fox News Digital's Anders Hagstrom. Click here to read more.
"The actions taken today by the White House split us apart instead of bringing us together," Canadian Prime Minister Justin Trudeau said at a news conference in announcing that America's northern neighbor would place matching 25% tariffs on up to $155 billion in U.S. imports, including alcohol and fruit.
Trudeau expressed the betrayal that many Canadians are feeling, reminding Americans that Canadian troops fought alongside them in Afghanistan and helped respond to various disasters in the U.S., including wildfires in California and Hurricane Katrina.
"We were always there standing with you, grieving with you, the American people," he said.
Trudeau warned of economic pain due to the tariffs and encouraged Canadians to "choose Canadian products and services rather than American ones." Still, he expressed optimism in the enduring relationship between the two countries.
This is an excerpt from an article written by FOX Business' Landion Mion.
Democrats in Washington criticized President Donald Trump's order, warning that any inflation in the near future would be the result of Trump's actions.
"You’re worried about grocery prices. Don’s raising prices with his tariffs," Senate Minority Leader Chuck Schumer, D-N.Y., wrote on X.
"You’re worried about tomato prices. Wait till Trump’s Mexico tariffs raise your tomato prices," he said in another post.
The Democrat leader added in another post: "You’re worried about car prices. Wait till Trump’s Canada tariffs raise your car prices."
Beijing is threatening to retaliate against the United States as President Donald Trump's 10% tariffs on China are expected to take effect Tuesday.
The White House announced on Saturday that the Trump administration is implementing a 25% additional tariff on imports from Canada and Mexico and a 10% additional tariff on imports from China, in a move intended to hold the three countries "accountable to their promises of halting illegal immigration and stopping poisonous fentanyl and other drugs from flowing into our country."
Namely with Beijing, the White House said Chinese officials "have failed to take the actions necessary to stem the flow of precursor chemicals to known criminal cartels and shut down money laundering by transnational criminal organizations."
This is an excerpt from an article written by FOX Business' Danielle Wallace.
President Donald Trump said on Monday morning that he spoke with Canadian Prime Minister Justin Trudeau after the president imposed tariffs on the major U.S. trading partner.
Trump placed levies of 25% on imports from Canada and Mexico, and 10% on China over the weekend, which roiled U.S. stocks in the first trading session of February.
Canada, in response, placed tariffs of 25% on several U.S. imports, Trudeau said on Saturday.
Trump said in a post on Truth Social that he will speak with Trudeau again at 3 p.m. ET on Monday.
Canada and Mexico each announced retaliatory tariffs on U.S. imports over the weekend after President Donald Trump placed levies on the countries. Trump, despite the pushback, is standing by his decision.
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