Published on 29 Nov 2024 on Benzinga
Trump's Proposed Tariffs Target Mexico, Canada, US Automakers; Wall Street...
In a shortened trading week for the Thanksgiving holiday, President-elect Donald Trump sent shockwaves through the markets by announcing plans to impose a 25% tariff on all imports from Mexico and Canada alongside a 10% hike on Chinese goods. These measures, he indicated, aim to pressure these countries to address drug trafficking and illegal immigration.
Currency markets reacted swiftly, with the Mexican peso and Canadian dollar plunging to two-year and four-year lows, respectively, before stabilizing as investors reassessed the risks.