, Columnist
We’re About to See If the ‘Trump Put’ Is Real
Tariffs test belief that markets can act as a veto on economic policy.
Mexico and Canada don’t think so, either.
Photographer: Al Drago/BloombergThis article is for subscribers only.
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Tariffs Tuesday is in the books, which is just as well. The US has now imposed 25% tariffs on Canada and Mexico, and brought tariffs up by 20% on China, while Commerce Secretary Howard Lutnick has just given an interview suggesting that they will be retracted or in some way reduced on America’s neighbors within the next 24 hours. In such an environment of uncertainty, let’s stick to what we can say with confidence, which isn’t all that much.