Courtesy: @WhiteHouse on X
PITTSBURGH, PA (PTTP) – The U.S. stock market has seen heightened fluctuation in
the wake of President Trump’s recently announced tariffs. The President announced
several new tariffs on April 2nd, proclaiming it as “Liberation Day”.
Investors began to sell their stocks in droves, leading to ten trillion dollars in value being
lost just two days after the tariffs were announced.
Mike Dempe, a personal financial coach in the Pittsburgh area, attributes this dip to
uncertainty in how the tariffs will affect companies.
“Typically from a business standpoint, you can deal with pretty much anything that’s
thrown at you if you know what it is,” Dempe said. “But if you can’t figure out, it’s hard to
invest a lot of money if something might change again next week.”
The market saw a spike upward over the past few days at the potential for the tariffs to
be renegotiated, as White House Press Secretary Karoline Leavitt claimed the president
was “willing to pick up the phone and talk” with other countries.
President Trump announced on April 9th that tariffs on all countries except for China
would be halted for 90 days, in which only the 10% universal tariff would stay in place.
This temporary shift in trade policy has seen several U.S. stocks rise, with the hope that
the market will stabilize in this time.
China will however remain with a 145% tariff on all imports for the foreseeable future.
China has since responded with an 84% levy on all U.S. imports. While Leavitt has
maintained that President Trump is open to negotiations, there is still yet to be any
contact between President Trump and President Xi that has been made public.