The news: Some Wall Street analysts were shocked that President Trump imposed tariffs on Canadian, Mexican, and Chinese goods, per Fortune. But Deutsche Bank’s head of macro research Jim Reid says they “should have seen it coming.”
How we got here: Trump promised broad tariffs on imports from the US’ three biggest trading partners during his campaign—and doubled down during and after his inauguration.
Still, when he actually went through with his plan, Wall Street panicked. But just days later, Trump announced a 30-day pause on the tariffs on Canadian and Mexican goods, per NBC. Now, the final outcome is anyone’s best guess.