Overview

• Mexico has been granted a 90-day reprieve from planned duties, while Canada is slated to face 35 percent tariffs under Trump’s decree.
• German retailers told Reuters that unpredictable shifts in implementation deadlines have sown deeper fear than the duties themselves, according to BGA President Dirk Jandura.
• European equity markets slid by about 1.8 percent, with the DAX and EuroStoxx50 registering steep losses amid renewed trade concerns.
• The White House action relies on the International Emergency Economic Powers Act of 1977, a legal basis already deemed overreach by a US trade court and met with skepticism by appellate judges.
• Swiss industry bodies, including Swissmem, warn that the looming 39 percent US levy on industrial goods could cost tens of thousands of jobs.