Stocks were up today after the Trump administration gave automakers a one-month break from new tariffs on Canada and Mexico — following days of ups and downs as the tariff reality keeps changing.
Businesses, investors and consumers are all yearning for some clarity, Axios' Ben Berkowitz writes. Instead they're getting a daily, if not hourly, drip of shifting information and conflicting priorities.
⏱️ It all started Monday, when President Trump promised tariffs were coming on Canada, Mexico and China. Stocks dropped.
On Tuesday morning, he imposed the tariffs and stocks fell further.
Later Tuesday, Commerce Secretary Howard Lutnick suggested on Fox Business that a tariff rollback could arrive today. Stocks rallied.
This morning, Lutnick told Bloomberg TV any rollback might target certain sectors, in a limited way and for a limited time. Stocks sold off again.
This afternoon, after news broke of the temporary relief for car makers, stocks quickly popped back into positive territory.
