Before the U.S. market opened on Thursday, U.S. President Trump said on social media that tariffs on Mexico and Canada will take effect on March 4.

As tariff concerns resurfaced, the US dollar index rose in the short term, reaching 107. Non-US currency pairs fell, with the US dollar rising more than 40 points against the Canadian dollar in the short term, breaking through 1.44. The euro fell more than 20 points against the US dollar in the short term, as low as 1.0419, and the pound fell nearly 30 points against the US dollar in the short term, as low as 1.2628. The US and Brent crude oil prices rose more than 0.4 US dollars in the short term, and rose more than 1% during the day.

Trump wrote on social media that drugs from the United States' North American neighbors are still entering the United States at "very high and unacceptable levels."

“We cannot allow this scourge to continue to harm the United States, and therefore, until it is stopped or severely limited, the proposed tariffs scheduled to take effect on March 4 will indeed go into effect as scheduled,” he wrote.

At a cabinet meeting on Wednesday, Trump appeared to conflate tariffs on Canada and Mexico, which are tied to drug trafficking and illegal immigration, with a planned "reciprocal tariffs" on countries around the world, creating confusion about the timing and scope of his tariff plans.

“The April 2 ‘reciprocal tariff’ date will remain in full effect,” he wrote Thursday.

Kevin Hassett, director of the White House National Economic Council, said in an interview that Trump will decide on tariff policy after a study on tariffs is released on April 1.

Since taking office, Trump's unpredictable tariff policy has caused confusion in the market. On February 1, Trump signed an executive order to impose a 25% tariff on products imported from Mexico and Canada, including a 10% tariff on Canadian energy products. On the 3rd, Trump announced a 30-day suspension of the tariff increase measures on the two countries and continued negotiations. According to this decision, the relevant tariff increase measures will take effect on March 4.

In addition, Trump signed a memorandum on the 13th requiring relevant departments to determine "reciprocal tariffs" with each foreign trading partner. On February 26 local time, Trump also said at a cabinet meeting that he expected to announce additional tariffs on EU goods exported to the United States soon.

Article forwarded from: Jinshi Data