Following President Trump's announcement of a 25% tariff on goods from Canada and Mexico, the Dow Jones index saw a significant decline, closing down 650 points. Fox News anchor Martha MacCallum discussed this sharp market reaction with guest Kevin O'Leary, who noted that rising prices in essential sectors like housing and energy, along with uncertainty regarding the economic outlook and job numbers, were adding to investor anxiety. O'Leary suggested optimism for a future trade resolution with Canada, hinting that a deal could occur within 90 days.
You know, you've got two forces at play here. We're talking about [an] affordability czar because the price of eggs and housing and energy have are not showing any signs of declining at this point.
And to a certain extent, over the long period of time, they would be inflationary, particularly on things like lumber for housing.
A lot of businesses across America are calibrating this. They buy things from all over the world in order to make their products.
I've got a feeling the Canadian deal is going to get worked out probably in the next 90 days.
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