President Trump pauses proposed tariffs on Canadian and Mexican goods, but stock market still shaken
President Trump paused his plan to impose tariffs on both Canadian and Mexican goods for 30 days on Monday.
This comes after the President announced he would impose 25% tariffs on all Canadian and Mexican goods, with an additional 10% tariff on goods from China. Nonetheless, the announcement led to uncertainty in the stock market on Monday.
After markets closed, the S&P 500 remained down 0.76%, the NASDAQ is down 1.20%, and the Dow Index is down 0.28%.
The stock market recovered slightly after the president put a pause on tariffs to Mexico, but as the threat of tariffs loom over America's trading partners, shareholders remain uneasy.
Just after 1:30 p.m., Canadian Prime Minister Justin Trudeau announced on X that President Trump is pausing proposed tariffs for 30 days as the two countries "work together."

More information on Canada's border plan can be seen on its website.
With tariff threats going back-and-forth, financial planners are advising investors and consumers not to make any drastic changes when it comes to their investment portfolios right now.
"I would generally say people it's so early that people shouldn't make drastic changes to their portfolios based on how the political winds blow," says Dana Crosby, an Independent Investment Advisor with SC Capital Advisors in Rancho Mirage.
As for long-term investments, like retirement plans, Crosby says while proposed tariffs could bring negative short-term impacts, he doesn't anticipate any lasting negative effects.
"Over the long term, you know, free enterprise is just here to stay. And you should you should keep a long term view when it comes to your long term retirement assets," he cautions.
Meanwhile, economic experts from College of the Desert are especially concerned with potential short-term impacts to consumers. Dr. Elizabeth Walker, a professor at the college, says potential tariffs would be "devastating on the cost of everything."
Whether or not the tariffs materialize in a months' time, Dr. Walker says the threat of tariffs and their impacts provides an opportunity for consumers and voters to learn.
"[Voters] were told that tariffs were something that other countries pay and that we don't incur the costs. And people believed it. And now they're going to learn that is not how tariffs work," she explains.