Trump says he will issue executive order to charge Canada, Mexico 25% tariff on goods upon taking office

Published On Nov 25, 2024, 7:04 PM

President-elect Donald Trump has announced his intention to impose a 25% tariff on all goods imported from Canada and Mexico as part of an executive order he plans to issue upon taking office. He cites issues related to illegal immigration and drug trafficking, particularly fentanyl, as the reasons for the tariffs. Additionally, he plans to introduce a 10% tariff on Chinese goods due to the ongoing drug crisis linked to fentanyl smuggling. Canada has responded by reinforcing the importance of their trade relationship and border security efforts with the U.S.

Read full article

Stock Forecasts

SPYView SPY chart on TradingView

Negative

Trump's tariff plans could lead to higher consumer prices and may prompt retaliation from affected countries, potentially impacting trade volumes. Companies heavily reliant on imported goods from these countries might see their costs increase, which could negatively impact their stock performance.

Related News

Trump Plans Tariffs on Canada, China and Mexico That Could Cripple Trade

Nov 25, 2024, 7:51 PM

The president-elect said that he would impose the across-the-board tariffs on Day 1 and that they would stay in place until Canada, Mexico and China halted the flow of drugs and migrants.

SPY

Trump vows an additional 10% tariff on China, 25% tariffs on Canada and Mexico

Nov 25, 2024, 7:33 PM

President-elect Donald Trump plans to raise tariffs by an additional 10% on all Chinese goods coming into the U.S., according to a post Monday on his social media platform Truth Social.

SPY
XPO
PG

Wall Street issues its most bullish S&P outlook yet for 2025

Nov 25, 2024, 4:47 PM

Deutsche Bank chief global strategist Binky Chadha has a 2025 year-end S&P 500 target of 7,000 as he believes the US economy will continue to expand over the next year.

SPY