Trump signalled a willingness to ease some tariffs but also impose new ones
U.S. stocks closed down slightly on Tuesday as investors weathered ongoing uncertainty about President Donald Trump’s tariff plans.
The Dow Jones Industrial Average ticked down 155 points, or 0.3%, at the close of trading. The S&P 500 fell 0.1%, while the tech-heavy Nasdaq declined 0.05%.
The U.S. has received about 15 proposals for trade agreements, White House Press Secretary Karoline Leavitt told reporters on Tuesday. Trump issued a 90-day pause of so-called “reciprocal tariffs” last week, saying he plans to negotiate trade agreements with roughly 75 countries targeted by the levies.
The remarks from Leavitt came a day after Trump signalled a willingness to ease auto tariffs while saying he plans to impose new tariffs on computer chips and pharmaceuticals
Trump’s administration said on Friday that many consumer electronics would be exempt from his wide-ranging reciprocal tariffs, an announcement that sent global markets higher on Monday.
Trump on Monday also indicated a willingness to further ease tariffs, saying he is looking to “help some of the car companies” in the aftermath of 25% auto levies.
The White House also took steps on Monday that may result in new tariffs on pharmaceuticals and semiconductors, posting notices online about national security investigations into those products.
Markets in Europe traded higher on Tuesday, after European Commission President Ursula von der Leyen’s 90-day pause on planned tariff countermeasures went into effect.
Germany’s DAX climbed about 1.4% and Britain’s FTSE 100 traded up about 1.4%.
South Korea’s KOSPI index closed up 0.8% on Tuesday, posting its second day of gains. And Tokyo’s Nikkei 225 climbed 0.8%.
Markets in China, where Trump’s reciprocal tariffs are still in place, showed less enthusiasm. Shanghai’s Composite Index rose just 0.15% and Hong Kong’s Hang Seng Index climbed 0.23%.
Source: abcNEWS
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