Things are currently not going as planned for President Donald Trump as reports indicates fall in US stock markets.
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According to reports confirmed by BBC, The United States market is curently down after opening for the first day of trading since Donald Trump confirmed he would impose trade tariffs on Mexico, Canada and China.
The United States President announced a 25% import tax on goods from Canada and Mexico last week.
Not only Mexico and Canada are his targets, he also hit china with 10% on goods from the Asian country.
The tariff for China will begin on Tuesday with Deutsche Bank strategists describing it as one of the a severe shock he ever witnesses in any US administration.
Earlier, the US president also warned the he would “definitely” impose trade tariffs on the EU, but suggested a deal could “be worked out” with the UK
Stock markets also fell in Asia during Monday’s trading, while European markets dropped shortly after opening.
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Trump has given a range of reasons for imposing tariffs, including border security, inflows of drugs and trade deficits – Canada has already introduced retaliatory tariffs.
