President Trump widened his trade war by announcing significant tariffs on imports from Canada and pharmaceuticals, which could lead to tariffs as high as 200% in some cases. Investors expressed concern following these announcements, reflected by a 0.5% drop in the Vanguard S&P 500 ETF. On a more positive note, Levi Strauss reported a strong fiscal Q2 profit of $0.22 per share, surpassing expectations and projecting continued earnings growth for 2025. The mixed news from tariffs and corporate earnings created notable volatility in the stock market.
President Trump has implemented tariffs on a global scale, with significant increases targeting Canada and pharmaceuticals, leading to heightened trade tensions and investor concern.
Levi Strauss reported earnings of $0.22 per share in Q2, outperforming analyst expectations and indicating a strong outlook for the company's performance through 2025.
The President warned that tariffs on certain Canadian imports could rise to 35%, with blanket tariffs potentially increasing to 20%, causing immediate pre-market stock declines.
Investors are reacting to tariff announcements with volatility in the stock market, as seen by a 0.5% drop in the Vanguard S&P 500 ETF premarket.
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