Wall Street, Trump and tariffs
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The so-called TACO trade will be tested as markets wait to see if Trump will actually follow through with his latest threat or if he will put it on hold soon.
U.S. stocks are drifting, as momentum slows following their sprint through May, which was their best month since 2023.
U.S. stock index futures dipped on Monday after President Donald Trump announced plans to double tariffs on imported steel and aluminum, amplifying concerns about trade- and tariff-related volatility.
White House officials maintain bankers’ concerns are overstated and discount expected revenues from the president’s tariffs.
Stocks fell Friday after President Donald Trump said China has “totally violated” its trade agreement with the United States, sending another jolt to markets after a whiplash week of tariff developments.
Wall Street's main indexes dipped on Monday after President Donald Trump said he plans to double tariffs on imported steel and aluminum, fueling more uncertainty around U.S. trade policies. Trump said late on Friday he planned to increase tariffs on imported steel and aluminum to 50% from 25% starting Wednesday,