Trump doubles down on Mexico tariff threat, markets rattled

Trump doubles down on Mexico tariff threat, markets rattled

Trump’s startling announcement of the new tariffs came the same day he started the process of ratifying the new North American trade pact with Mexico and Canada, the USMCA — an agreement that now may be under threat.

Global markets slumped over the latest trade war threat.

The top three US markets all closed down 1.3 percent or more, with some automakers skidding five percent.

Shares in Tokyo lost 1.6 percent, European markets were also hit, and the Mexican peso dropped 2.5 percent against the dollar.

via yahoo finance Trump doubles down on Mexico tariff threat, markets rattled