US stocks move higher as investors await tariffs update
Mamta Badkar 15 minutes ago
The S&P 500 was up 0.3 per cent to 2,733.62, led by gains in technology and healthcare sectors. Meanwhile, Treasuries were mixed while the US dollar was modestly higher.
Fears of a trade war have eased after the White House signalled on Wednesday that Canada, Mexico and other countries may be carved out from forthcoming tariffs on steel and aluminium imports for national security reasons. News that the president had planned sweeping tariffs had raised concerns about retaliation by other countries and the impact it could have on the US economy, and prompted the exit of Mr Trump’s chief economic adviser Gary Cohn, who was widely considered to be pro-market and pro-trade.
Despite lingering confusion about the timing of such an announcement Mr Trump hinted that news may be coming, tweeting: “Looking forward to 3:30 P.M. meeting today at the White House. We have to protect & build our Steel and Aluminum Industries while at the same time showing great flexibility and co-operation toward those that are real friends and treat us fairly on both trade and the military.†...
FT.com