Stock market drops immediately after White House announces looming tariffs on Canada, Mexico

Donald TrumpThe promised definitions on Canada and Mexico will not enter into force until Saturday, but they are already a noticeable impact on the American economy.

All the three most popular stock indicators fell in the wake of the White House press secretary Caroline LevittAnnouncement of the 25 % definitions on imported goods on Friday. per CNBCThe total market index decreased by half a percent. Dow Jones industrial average declined by more than 300 points to this writing.

Trump friend Fox News I noticed the sale immediately after the press conference.

“There was little market reaction,” said anchor Sandra Smith. “Not a huge sale, but there was definitely a reaction to it.”

Trump carried a campaign Imposing customs duties against Canada, Mexico and ChinaAnd the largest commercial partners in the United States. China is subject to a 10 % very slope tariff starting at midnight tonight. Levitt said the definitions are a penalty equipped with the country’s neighbors of the country to allow non -documented immigrants and fentanel to cross the border.

“The president will run a 25 % tariff on Mexico, 25 % of the customs tariff for Canada, and a 10 % tariff for China for the illegal Ventanil that they distributed to our country, who killed tens of millions who said:” The Americans.

Levitt described customs duties “the promises he made and the promises that the president maintains” while reporting that the sudden tax can cause economic shocks. I asked ABC News’ Selina Wang Leavitt directly if the Trump administration is considering canceling the tariffs if it causes prices to rise significantly. The press secretary accused the media of taking a short view of Trump’s economic plans.

“This is a virtual question and the president intends to ensure that he is effectively implemented as definitions while reducing inflation and costs of the American people,” she said. “The media has this method to consider everything in a microscope rather than the entire government economic approach that this president takes. It will effectively implement the definitions.”

Watch Levit’s briefing below: