US President Donald Trump widens scope of tariffs, but pushes back timeline

US President Donald Trump hit markets with fresh tariff headlines on Wednesday, re-reiterating his insistence on 25% tariffs on Canada and Mexico, as well as adding the European Union to the mixed bad of countries that he will penalize US consumers for importing from.

Despite a fresh doubling down on his plans to fund the US' deficit spending with import taxes, President Trump has also kicked his own tariff can down the road for a fourth straight time, deciding that tariffs on Canadian and Mexican imports won't go into effect until April.

Key highlights

Not stopping the tariffs.

Tariffs will go on, not all, but a lot of them.

Canada and Mexico tariffs go into effect April 2nd.

We don't need Canada's lumber.

Trump decision on tariffs on EU: 25%

Details on EU tariffs coming soon.

EU can try to retaliate on tariffs.

 EU tariffs to be 25% on autos, and other things.