US EditionASX Set to Slide Lower as Tariffs Weigh on Wall Street
UNITED STATES, JUL 12 – President Trump uses record stock market gains to justify escalating tariffs on Canada, the European Union, and Mexico with rates rising to as high as 35%, analysts say markets remain resilient.
- On July 14, US lawmakers began Crypto Week to debate bills that could shape industry regulation amid ongoing tariff tensions.
- The discussions follow President Trump's announcement of tariff delays to August 1 and plans for 30% tariffs on the EU, Mexico, and 35% on Canada.
- Despite escalating tariffs, markets have stayed stable with stocks recently hitting record highs and some companies beating earnings expectations.
- Bank of America economists called the market's muted response 'the game that never ends' and questioned how much re-escalation the market can tolerate before correcting lower.
- The tariff tensions suggest ongoing uncertainty for global markets and US trade relations, with potential impacts on asset prices and future economic policies.
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12 Articles
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Coverage Details
Total News Sources12
Leaning Left4Leaning Right1Center2Last UpdatedBias Distribution57% Left
Bias Distribution
- 57% of the sources lean Left
57% Left
L 57%
C 29%
14%
Factuality
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