Trump's Proposed Tariffs Target Mexico, Canada, US Automakers; Wall Street Shrugs Off Concerns, Soars To Record Highs: This Week In The Markets

Quick Summary:

In a shortened trading week for the Thanksgiving holiday, President-elect Donald Trump sent shockwaves through the markets by announcing plans to impose a 25% tariff on all imports from Mexico and Canada alongside a 10% hike on Chinese goods.

Currency markets reacted swiftly, with the Mexican peso and Canadian dollar plunging to two-year and four-year lows, respectively, before stabilizing as investors reassessed the risks.

The escalating trade tensions took a toll on U.S.automaker stocks, particularly General Motors Company (NYSE:GM), which relies heavily on Mexican production.

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Article Details

Author / Journalist: Piero Cingari

Category: Technology

Markets: United StatesCanadaMaliMexico

Topics: Top Stories Forex Analyst Color Donald Trump US4642876555 Real Estate Macro Economic Events Broad U.S. Equity ETFs Economics IWM Tariffs GM Tech Federal Reserve Benzinga ETFs US37045V1008 Small Cap Large Cap Econ #s Automakers Expert Ideas Stories That Matter

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-29 @ 19:35:51 (12 hours ago)

News Timezone: GMT +8:00

News Source URL: benzinga.com

Language: English

Article Length: 432 words

Reading Time: 3 minutes read

Sentences: 26 lines

Sentence Length: 17 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Benzinga

News ID: 23953597

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