The stock market has caused a sudden loss on Monday, triggered by President Trump's aggressive tariffs on Canada, Mexico and Chinese products.
Dow Jones's industrial average decreased by 565 points (1.3 %) after the opening bell on Monday, the first day of Trump's Saturday's tariff announcement. The S & P 500 indexes decreased by 1.7 %, and NASDAQ composite has decreased by 2.2 %.
Trump imposed a 25 % tariff on all Canada and Mexico products and signed a lower order of 10 % of energy goods. He also signed an import tax set during the first term of Trump, and signed an order to impose an additional 10 % tariff on Chinese products saved by former President Biden.
Trump repeatedly pledged a new tariff on US trade partners during his presidential election, promising to attack Canada and Mexico with 25 % tariffs immediately after the election. Nevertheless, the promise performance sent a shock wave to the political and economic world given the aggression of Trump's approach.
Canada and Mexico are the two largest trade partners in the United States, and are important sources of agricultural products, energy, wood and manufacturing products for Americans.
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