The announcement of broad global tariffs by President Trump has led to significant market reaction, including a drop in U.S. stock futures. Analysts on Fox Business expressed concerns about the scale and permanence of these tariffs, which include a 10% baseline on imports and 25% on foreign automobiles. While some hope these tariffs are a tactic to negotiate better terms with other countries, others fear they may become a permanent fixture. The staggered implementation of these tariffs is viewed as an opportunity for negotiation, though it raises questions about relationships with key allies like Canada.
I obviously expected the reciprocal tariffs, but I was not expecting the 10% baseline or universal tariff. My back of the envelope says $500 billion in tariff revenue.
I like the idea that the tariffs are staggered. The implementation dates are staggered and the baseline goes into effect obviously today, but the other country-specific tariffs don't go into effect until April 9.
The question is why are we needlessly ticking off Canada? My understanding with conversations with the White House, I hope we're correct that this is about negotiation.
It seems like they're more semi permanent or permanent than temporary. I was thinking it would be temporary and get other countries to drop the tariff rate and then will drop ours as well.
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