Here’s your guide to the week ahead in global markets from Kevin Buckland in Tokyo, Saqib Ahmed and Lewis Krauskopf in New York, and Tommy Wilkes and Amanda Cooper in London:
1. T day
From bond investors and currency traders to Fed officials and foreign powers – everybody wants to know how serious Trump is about tariffs, and how severe they will be.
Saturday could be the best indication so far, when Trump has promised to slap neighbours Canada and Mexico with 25% levies until both illegal migrants and the drug fentanyl stop crossing their borders. In scope for tariffs are a combined trillion dollars of US-bound shipments a year.
Canada is hoping to head off any action, launching a fentanyl crackdown, while Mexico scored the biggest fentanyl bust in its history in December.
An arguably more interesting case is China. It’s anyone’s guess if mooted 10% tariffs are also on the cards for Saturday….
