How Equity Markets Reacted to Trump’s Tariff Announcements: The Data

The markets yearn for normality. However, despite the relaxation of customs duties, what worked earlier no longer applies on the stock exchanges.

How Equity Markets Reacted to Trump’s Tariff Announcements: The Data

Campaigning for a second term, President Donald Trump committed the United States to sweeping tariffs that have no precedent since the Second World War. Shortly after his inauguration, Trump issued multiple Executive Orders (EOs) and press releases both to enact and sometimes reverse tariffs. Anticipation, enactment and then pauses in the president’s tariff agenda all affected US and global equity markets. This essay reports on the market impact…