The ‘Trump tax’ is here as the White House has announced a 25% tariff on goods and services from Canada and Mexico as well as a 10% tariff on items from China. Specifics are few and far between, but the tariffs are set to go into effect on February 1.
White House Press Secretary Karoline Leavitt suggested we’ll learn what’s impacted in about 24 hours and the lack of information sent Wall Street into a panic. The Dow Jones Industrial Average closed down 337 points as the announcement sparked a selloff.
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