Markets Unmoved by Trump's Tariff Threats
European and global markets showed little reaction to President Trump's threat of doubling steel and aluminum tariffs. Despite expectations of impact, major currencies remained stable, reflecting skepticism toward the proposed changes. The European Union expressed dissatisfaction and hinted at potential retaliatory actions.
European and global markets entered the new week with little to no reaction to President Donald Trump's late-Friday announcement of increasing tariffs on steel and aluminum to 50%. This policy shift, made via tweet, failed to cause the anticipated market fluctuations.
Key financial indicators, such as the Canadian dollar, remained surprisingly resilient, displaying strength against a weaker U.S. dollar. Furthermore, European share futures showed minimal drops, and Wall Street futures dipped only modestly.
The European Union has expressed concerns over this unexpected development and hinted at possible retaliatory measures, while tensions with China remain unresolved. Treasury Secretary Scott Bessent's recent comments add another layer of irony amid ongoing trade disputes.
(With inputs from agencies.)
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