President Trump has sparked a significant rally in the Dow Jones Industrial Average, fueled by optimism surrounding potential trade negotiations with the EU. After alarming investors with a potential 50% tariff threat on EU imports, he clarified that these tariffs would not take effect until July 9. Concurrently, discord within the White House surfaced as Elon Musk criticized Trump's recently passed massive spending bill, which he claims could exacerbate the budget deficit and hinder the effectiveness of initiatives he supports. Despite this, the Dow remains stable, reflecting overall market optimism.
President Trump has ignited a stock market rally on the Dow Jones Industrial Average, raising hopes of a trade deal with the EU.
On Monday, the President backtracked, saying the tariffs won't actually go into effect until July 9, increasing optimism among investors.
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