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Stocks Close Down After Wild Ride Amid Tariff Chaos
Volatile markets fell, then really plunged, then rebounded on Tuesday to close well off their lows for the day in one of themost chaotic periods in recent memory for international trade prospects.
President Donald Trump — who has started trade wars with Canada, Mexico and China and threatened tariffs on European goods – in an interview over the weekend, did not discount the possibility of a recession. “Secretary Lutnick agreed to officially meet with Premier Ford in Washington on Thursday, March 13 alongside the United States Trade Representative to discuss a renewed USMCA ahead of the April 2 reciprocal tariff deadline. That statement came after Trump’s Truth Social post: “I have instructed my Secretary of Commerce to add an ADDITIONAL 25% Tariff, to 50%, on all STEEL and ALUMINUM COMING INTO THE UNITED STATES FROM CANADA, ONE OF THE HIGHEST TARIFFING NATIONS ANYWHERE IN THE WORLD.”
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