Weekly Market Commentary 03/09/2018
The financial markets heaved a collective sigh of relief on Thursday when president Trump presented a less strident face to the stiff tariff proposal on steel and aluminum announced last week, exempting imports from Canada and Mexico and indicating that more allies, including Australia, might also be excluded. To be sure, the exemptions come with caveats, as Trump indicated they might only be temporary depending on how Nafta negotiations progress. Ironically, the modest backtracking comes a day after Gary Cohn, who was adamantly opposed to the tariffs, announced his retirement as chief economic advisor to the president.
- DATE: March 9, 2018
- TYPE: PDF
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