US stocks slid Monday as investors braced for President Donald Trump’s proposed tariffs on Canada and Mexico to go into effect by the midnight deadline.
The Dow fell almost 900 points in afternoon trading before pulling back slightly.
“Tomorrow, tariffs — 25% on Canada and 25% on Mexico,” Trump said during a press conference at the White House.
… What they have to do is build their car plants, frankly, and other things in the United States, in which case they have no tariffs.”.
Canadian Prime Minister Justin Trudeau said Ottawa would immediately respond with tariffs on $30 billion of US goods if the Trump administration’s measures go into effect.
Trump also signed an executive order on Monday raising tariffs on imports from China to 20%, up from 10%.
The initial tariffs, which went into effect February 4, set in motion tariffs on $1.4 trillion of imported goods. »
