U.S. Could Face Prolonged Tit-For-Tat Trade War -- Market Talk

Dow Jones10:09

0209 GMT - The U.S. could face a prolonged tit-for-tat trade war, Yeap Jun Rong, market stategist at IG writes in a note. Markets await Mexico and China's retaliatory responses, with Canada already hitting back with 25% tariffs on the U.S., Yeap says. Trump's follow-through on tariffs will likely cause market turbulence this week, and the pace of escalation could catch markets off guard, Yeap says. The uncertainty over how long the trade tensions will last, and whether other economies like the EU could be targeted could cause a wave of de-risking sentiment across global equities, Yeap warns. Mexico and Canada could face heightened recession risks in the event of a prolonged trade war, Yeap says. (kimberley.kao@wsj.com)

(END) Dow Jones Newswires

February 02, 2025 21:09 ET (02:09 GMT)

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The uncertainty over how long the trade tensions will last, and whether other economies like the EU could be targeted could cause a wave of de-risking sentiment across global equities, Yeap warns. Mexico and Canada could face heightened recession risks in the event of a prolonged trade war, Yeap says. 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