donald trump, Wall Street and tariffs
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1don MSNOpinion
Trump's call for a minimum 15-20% tariff on imports from the European Union, as reported by the Financial Times, is a reminder that global trade tensions are still alive and could yet hit growth and fuel inflation.
Trump has rolled back many of his steepest tariffs over recent months, including a sky-high levy on China, the top source of U.S. imports. In recent days, however, Trump announced plans to slap tariffs as high as 50% on dozens of countries, including 25% tariffs on top U.S. trade partners such as Japan and South Korea.
World shares are mostly higher, with financial markets shrugging off U.S. tariff pressures on its trading partners
Some top executives at Wall Street banks have been showing concern about higher inflation and potential deterioration of the U.S. economy as tariffs take effect, noting there has been more cautious behavior from corporate clients.
3don MSN
Early trading on Wall Street was quietly mixed as markets shift their attention toward a deluge of corporate earnings reports.