Wall Street closes down, pares losses after Trump delays Mexico tariffs
Trump said he has paused planned tariffs on Mexico for one month after the nation agreed to reinforce its northern border with 10,000 National Guard members to stem the flow of illegal drugs, particularly fentanyl.
Over the weekend, Trump had announced hefty new tariffs of 25% on imports from Mexico and Canada, and 10% on China — which he said may cause short-term pain for Americans.
«Trump has been really serious that tariffs are going to be a primary tool to achieve a number of different things,» said Carol Schleif, chief investment officer at BMO Family Office.
«They're not going away and the ride is likely to be bumpy in the short run. And it's clear the European Union is in his sights too.»
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