Summary
Donald Trump will impose new tariffs on Saturday, including 25% on imports from Canada and Mexico and 10% on China, citing fentanyl trafficking as the reason.
The White House provided few details but denied reports of exemptions or delays.
The announcement caused the Dow to drop over 300 points, sparking fears of renewed inflation.
Economists warn the tariffs could disrupt trade and economic stability.
The Federal Reserve is closely monitoring the potential impact on inflation and growth.
You’re looking for consistency from the trump administration? I would have zero surprised if he announce retroactive tariffs on Canada and Mexico starting prior to the USA even existing as a nation in 1776.