President Trump reiterated his focus on reciprocal tariffs in a speech overnight to a joint session of Congress, noting that there would be a "little disturbance" but that we are "ok with that."
Global equity markets braced for a potential trade decision with Canada and Mexico overnight and into the US morning. This follows Trump imposing a 25% tariff on imported goods from Mexico and Canada on Tuesday and increased tariffs on Chinese goods to 20%, up from 10%.
On Tuesday afternoon, US Commerce Secretary Howard Lutnick stated on Fox Business, "I think the president is going to work something out with them," adding, "It's not going to be a pause, none of that pause stuff, but I think he's going to figure out, you do more, and I'll meet you in the middle some way, and we're going to probably be announcing that tomorrow."
