Washington Today
Dow down 650 points as POTUS Trump confirms tariffs on Mexico and Canada will start Tuesday
Mar 3, 2025
Joining the discussion is Mike Johnson, the House Speaker, who shares his insights on the imminent tariffs announced by President Trump on Mexico and Canada. They delve into the potential market impact and what it means for consumers. The conversation also highlights the approaching government funding deadline and the challenges of bipartisan negotiations. Johnson offers a behind-the-scenes look at the political dynamics as the President prepares to address Congress, emphasizing the urgent need for cooperation to avoid a shutdown.
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Quick takeaways
- The announced tariffs on Mexico and Canada are likely to raise consumer prices, potentially exacerbating public concerns about inflation.
- Trump's assertions regarding Ukraine and domestic policies may indicate a pivot towards a more aggressive stance in international negotiations and social funding.
Deep dives
New Trade Tariffs Implemented
The announcement of tariffs on goods from Mexico and Canada was made, ending a delay after temporary agreements had been reached by both countries. These tariffs, expected to raise market prices on a variety of consumer goods including beverages and produce, could significantly impact the inflationary landscape that many voters are concerned about. Following the announcement, the stock market reacted negatively, with the Dow Jones Industrial Average dropping approximately 1.5%. This move is seen as a political gamble that may test consumer patience, particularly given the ongoing public discontent regarding high prices.
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