(FreePressBeacon.com) – In a brave act as part of his agenda, President Donald Trump is set to implement on Tuesday a 25% tariff on imports from Mexico and Canada, promising to protect American industries against the tide of unfair trade practices.
See the tweet below!
As the March 4, 2025 deadline looms, this decisive move reflects Trump’s unwavering commitment to safeguard America’s economic interests.
U.S. stocks took a nosedive following Trump’s announcement, with the S&P 500 dropping 1.8%, the Dow Jones Industrial Average falling 649 points, and the Nasdaq tumbling 2.6%.
This sharp decline underscores the anxiety gripping Wall Street, as investors brace for the ripple effects of these tariffs.
Concerns over increased consumer prices and strained industries are mounting.
The tariffs will hit a wide range of imported goods, raising fears about inflation among U.S. households.
Manufacturing activity shows growth, but there’s caution as new orders contract under the pressure of looming tariffs.
Trump’s actions seek to counter what he sees as the illicit flow of fentanyl trafficking and to bolster domestic production, reports ABC7.
Nvidia and Tesla felt the brunt, with Nvidia’s shares plummeting 8.8% and Tesla falling 2.8%.
Simultaneously, sectors tied to the cryptocurrency economy also suffered, such as MicroStrategy and Coinbase, adding to the widespread market turmoil.
“No room left for Mexico or Canada, The tariffs – they are all set. They’re going into effect tomorrow,” Trump declared.
The Federal Reserve faces limited ability to cut interest rates due to persistent inflation concerns, further complicating the economic outlook.
Drops in Treasury yields typically boost stock prices, but market volatility may negate this positive effect.
Across global markets, European indices like Germany’s DAX and France’s CAC 40 thrived, contrasting the challenges at home.
Canada and Mexico vowed to retaliate, casting uncertainty on international trade relations.
Mexico’s President Claudia Sheinbaum declared multiple contingency plans, while Canada’s Foreign Minister Melanie Joly acknowledged the unpredictable nature of Trump’s administration.
Meanwhile, TSMC announced a massive $100 billion investment in Arizona’s semiconductor plants, driven by the CHIPS Act and pending tariffs.
As Trump asserts there’s “no room left for negotiation,” the international community watches nervously.
Despite internal market pressures, Trump’s determination remains unquestioned, as he champions American interests on the global stage.
Honda moves Civic production plans to Indiana from Mexico to avoid Trump’s tariffs: report https://t.co/U9kpsRk38R pic.twitter.com/AIgYvoNQH9
— New York Post (@nypost) March 3, 2025
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