Overview

• Economists warn that President Trump’s fluctuating trade policies, including tariffs on Canada, Mexico, and China, are creating uncertainty and dampening business confidence.
• U.S. stock markets have experienced significant volatility, with major indices logging their worst weekly losses since September and the Nasdaq entering correction territory.
• Consumer confidence has fallen sharply, with February data showing its steepest monthly decline since 2009, while consumer spending has also dropped unexpectedly.
• The Federal Reserve is maintaining a cautious stance, with Chair Jerome Powell highlighting the uncertainty surrounding tariffs but refraining from immediate policy changes.
• Canada’s new Prime Minister, Mark Carney, has pledged retaliatory tariffs in response to Trump’s trade measures, further escalating tensions between the two nations.