03/04/2025

U.S. Autos, Homebuilders, Materials Take Hits as Trade War Begins

The tariffs went into effect today

Shares of U.S. companies have come under pressure from the latest escalation in Washington's trade war, with the newest tariffs on Canada and Mexico expected to hit earnings in several sectors, including automakers, retailers and raw materials.

President Donald Trump imposed 25 percent tariffs on imports from Mexico and Canada, effective Tuesday. The action covers more than $900 billion worth of annual U.S. imports from the two countries.

Trump also doubled duties on Chinese imports to 20 percent to punish Beijing over the U.S. fentanyl overdose crisis. The cumulative duty comes on top of up to 25 percent tariffs imposed during his first term.

Please select this link to read the complete article from Reuters.