Investors are bracing for significant stock market declines following the announcement of new trade tariffs by President Trump targeting Canada and Mexico. Effective Tuesday, the tariffs, which include a 25% levy on Canadian and Mexican exports and a 10% levy on energy, have prompted swift retaliatory actions from both countries. Analysts predict a possible trade war, as other countries such as China and the EU may follow suit with their own responses. The market anticipates a considerable drop in major indices, including a 1.2% fall for Nasdaq and a 0.7% decline for Dow Jones.
Investors are preparing for stock market declines as Canada and Mexico retaliate against recent US tariffs imposed by the Trump administration, potentially igniting a trade war.
The tariffs—25% on Canadian and Mexican exports and 10% on energy resources—are aimed at curbing illegal immigration and drug trafficking, according to Trump.
With the surprise rapid responses from Canada and Mexico, analysts warn of a possible sharp contraction in global trade as other countries may follow suit.
The market is already showing signs of impending declines, with Nasdaq projected to fall 1.2% and Dow Jones dropping over 0.7% in response to the tariffs.
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