US President Donald Trump is aiming to reshape the country’s trade policy using one of his preferred economic tools: tariffs.Leading up to and upon his return to office, Trump has floated numerous threats on tariffs.As Yahoo Finance’s Ben Werschkul has chronicled, those threats have at times changed in scope and scale, depending on whether we hear from Trump or one of his advisers. This dynamic has left US business and the country’s global trading partners — including neighbors Canada and Mexico, the European Union, and China — largely guessing about what comes next.Tariffs could also have ramifications for inflation, as they have the potential to push prices higher. That, in turn, could have ramifications for where the Federal Reserve takes interest rates in the coming months — and years.Read more: What are tariffs, and how do they affect you?Yahoo Finance will chronicle the latest news and updates from the threats to the eventual policy.LIVE 15 updatesYahoo Finance’s Ben Werschkul reports:President Donald Trump moved forward Saturday with his plans for tariffs on Canada, Mexico and China, ending a guessing game about how aggressively he would move to penalize America’s three largest trading partners.”Tariffs on imports from Canada, Mexico, and China are SIGNED!,” a Trump official posted to social media.The tariffs — as Trump has promised since after his election win — will be 25% duties on Canada and Mexico and 10% on China over issues of fentanyl and illegal migration, according to a White House summary of the actions.Read more here. Canada is bracing for President Trump’s promised tariffs. As of mid-afternoon on Feb. 1, the White House had still not announced any official details, but as Bloomberg reports, Canadian officials aren’t waiting around:Read more hereFor charts that tell the story of Trump, tariffs, and markets, download YF Chartbook Vol. 4. Yahoo Finance executive editor Brian Sozzi spoke to top business leaders about how they’re preparing for the expected tariffs from President Trump.”We’ve done a lot of scenario planning and we know the levers that we can pull to minimize any impact,” said General Motors Chair and CEO Mary Barra.IBM CFO Jim Kavanaugh says “stabilization right now is prudent.” And HP Inc. CEO Enrique Lores says “we don’t know exactly what tariffs are going to be put in place. But we have been working on this for several quarters.”Read more here.For charts that tell the story of Trump, tariffs, and markets, download YF Chartbook Vol. 4. Traders are moving volumes of gold and silver into the US via plane as President Trump prepares to impose tariffs on Mexico, Canada, and China on Saturday.Bloomberg reports that planes commonly carry gold between hubs in London, New York, Zurich, Hong Kong, and Shanghai, while “bulkier silver is typically sent by ship.”But as traders rush to obtain the precious metals ahead of looming trade escalations and futures surge, shipping silver by air has become worth the
Dom. Feb 2nd, 2025
