Tariffs are likely to result in "a little disturbance" as the president said, but the commerce secretary put an end to rumors they could lead to a recession.
The stock market dropped sharply in recent days as investors worried about the effects of President Donald Trump’s new tariffs on Canada and Mexico.
Commerce Secretary Howard Lutnick hinted at a compromise and a scaling back of the 25% tariffs imposed by Washington on Canada and Mexico on Tuesday.
President Donald Trump said Friday that he’s committed to making the U.S. a world leader in cryptocurrencies as industry leaders heaped praise on him for reversing what they said had been unfair attacks on digital assets by the previous administration.
Washington – President Donald Trump launched a trade war Tuesday against America’s three biggest trading partners, drawing immediate retaliation from Mexico, Canada and China and sending financial markets into a tailspin as the U.S. faced the threat of rekindled inflation and paralyzing uncertainty for business.