Trump's tariff 'Liberation Day' is a little over a week away, but the details are still a mystery
Markets remain locked into the slightest developments in President Donald Trump’s tariffs strategy — the result of a vacuum of uncertainty that’s forced investors to try to fill in the blanks.
Markets remain locked into the slightest developments in President Donald Trump’s tariffs strategy — the result of a vacuum of uncertainty that’s forced investors to try to fill in the blanks.
Stocks surged to their highest levels in more than a week Monday, following weekend reports from Bloomberg and The Wall Street Journal that the president was no longer going to impose blanket duties on industrial sectors like automobiles, pharmaceuticals and semiconductors.
Shares of Tesla, which have been battered by both sluggish sales and a backlash against CEO Elon Musk, soared 9.5% Monday; previously, the company submitted a letter to Trump’s trade representative, Jamieson Greer, stating it was vulnerable to retaliatory tariffs imposed by other countries in response to Trump’s measures.
A source familiar with Trump’s thinking told NBC News early Monday that the president has yet to make a final decision about the ultimate scale of his promised blanket-tariffs, expected to be announced on April 2. Trump delivered further volatility on Monday when he announced on his Truth Social platform that, starting that date, any country that purchases oil or gas from Venezuela would be forced to pay a 25% tariff on any trade they do with the U.S.
Later Monday, Trump hinted at even more leeway in the April 2 duties, while stating other levies on industrial items could still be forthcoming.
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