Trump, tariffs
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The Dow, S&P 500 and Nasdaq retreat from record highs as President Trump rolled out a fresh tariff against Canada, following Brazil hit. Meanwhile, the Federal Reserve and Chairman Powell are under fire for spending on renovations.
Markets previously brushed off tariff risks under the assumption that President Donald Trump would follow his earlier pattern and eventually retreat. That allowed stocks to reach new record-high territory,
Global investors got a harsh reminder of the risks around trade tariffs and U.S. President Donald Trump's deal-making on Saturday after he threatened fresh tariffs on his biggest trading partners in Europe and Mexico.
The president’s supporters portray him as a top dealmaker. But, at least for now, far more trading partners have gotten stiff tariffs than trade deals.