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Stock market falls as Trump's tariffs spark retaliation | LBC analysis
Posted
March 4, 2025
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March 4, 2025
35,040
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7:19Now PlayingUS tariffs on Canada and Mexico were implemented on Tuesday after Donald Trump said there was 'no room left' for negotiation.
Trump has said the tariffs are intended to force the two US neighbours to step up their fight against fentanyl trafficking and stop illegal immigration.
But he has also indicated that he wants to even the trade imbalance with both countries as well and push more factories to relocate in the US.
"Tomorrow - tariffs 25 per cent on Canada and 25 per cent on Mexico. And that'll start," Trump told reporters in the Roosevelt Room.
"They're going to have to have a tariff."
Trump's comments quickly rattled the US stock market, with the S&P 500 index down 2 per cent in Monday afternoon trading.
It is a sign of the political and economic risks that Trump feels compelled to take, given the possibility of higher inflation and the possible demise of a decades-long trade partnership with Mexico and Canada.
Economist Professor Michael Jacobs joins Shelagh Fogarty to discuss the impact of Trump's tariffs.
Listen to the full show on Global Player
#shelaghfogarty #donaldtrump #tariffs #trumptariffs #economy #economist #tax #stockmarket #america #usa #news #LBC
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