Trump Tariff Moves Rattle Markets

The markets slipped Friday as President Trump is preparing to implement steep import duties at the top of US trading partners on Saturday.

The S&P 500 closed 0.5 percent under open, and Dow Jones Industrial Average slipped more than 330 points or 7.5 percent. Nasdaq was down almost 0.3 percent from open.

Shares throw earlier gains after press secretary Karoline Leavitt in the White House confirmed on Friday that the president would charge 25 percent tariffs on Mexico and Canada and 10 percent on China.

Leavitt denied one Reuters reports that the collection of duties in Mexico and Canada would be delayed until March 1st.

“Tomorrow is implementing President,” Leavitt said.

“These are promises made and stored by the president,” she added.