Trump’s Feb. 1 Tariff Plan Approaches:

• 25% tariffs on Canada & Mexico set to take effect
• Trump says decision on oil tariffs will be made “tonight”
• China also at risk—10% duties could be announced soon

Business & Global Leaders in ‘Wait-and-See’ Mode:

• Fed Chair Jerome Powell: Tariff impact on inflation & economic growth remains highly uncertain
• Mexico’s President Claudia Sheinbaum: “We don’t expect it will happen … but we have our plan.”
• Canada’s Prime Minister Justin Trudeau: Preparing a strong countermeasure if tariffs are imposed
• Economists warn: Full tariffs could push Canada & Mexico into recession

Market & Economic Reactions:

• Stock market volatility increasing as investors react to trade uncertainty
• Business spending slowing—companies hesitant to invest amid unpredictable policies

Global Trade Tensions Escalate:

• Trump threatens BRICS nations (Brazil, Russia, India, China, South Africa) with 100% tariffs if they move away from the US dollar
• Treasury Secretary Scott Bessent proposed a more gradual approach—starting tariffs at 2.5%—but Trump rejected the idea
• Commerce Secretary nominee Howard Lutnick hinted that Mexico could avoid tariffs if it takes strong action on migration and fentanyl trafficking

What’s Next?

• Trump’s aggressive trade stance is sending shockwaves through financial markets and global economies.
• While some see tariffs as a bargaining tool, their potential impact on inflation, supply chains, and economic growth shouldn’t be underestimated.
• If tariffs go into full effect, expect market volatility, higher consumer prices, and possible retaliatory measures from key trade partners.