NEW YORK CITY (Reuters) – UNITED STATE President Donald Trump on Saturday bought 25% tolls on Canadian and Mexican imports and 10% on objects from China starting on Tuesday to take care of a nationwide emergency scenario over fentanyl and illegal aliens going into the united state, White House authorities claimed.
Here are some remarks from planners and financiers:
DUSTIN REID, PRIMARY PLANNER, FIXED REVENUE, MACKENZIE FINANCIAL, TORONTO:
“I think it’s quite negative for equities – they will be sold off, along with other risk assets. If the tariffs are implemented as seems likely now, they will have a very significant impact on price levels in the U.S. very quickly, which also will put a dent in equities and high-beta assets. I think it’s very likely we’ll see reciprocal tariffs announced. I’m assuming that happens as soon as this evening.”
MARK MALEK, PRIMARY INVESTMENT POLICE OFFICER, SIEBERT FINANCIAL:
“Until now the market has really been on Trump’s side, but this is something where that could change and the market could challenge him for the first time. The unknown will perturb the market, no question about it.”
RICK MECKLER, COMPANION, CHERRY LANE INVESTMENTS, FAMILY MEMBERS FINANCIAL INVESTMENT WORKPLACE, NEW VERNON, NJ
“These generalized tariffs that cover a much wider range of products and are targeted toward social policy have usually proven to be a mistake. I think that’s why the market has looked at this skeptically, and with anxiety, all along. With any delay in implementation, there will be some view that this is still a negotiating ploy.”
“I might count on to see the market rattled by it if it’s signed and issued, within the type we perceive it would take.
” A whole response won’t be gotten to until it’s clear that is the plan, nonetheless.”
(Reporting by Suzanne McGee; put collectively by Megan Davies; Editing by Nick Zieminski)
