Trump's tariff plans are still taking shape, despite pledges for Day 1 action
Tariffs were not in the executive orders Trump signed on Monday night and he suggested he's still undecided on how far they might go -- which investors are reading as a good sign, reflected by the rallying market on Tuesday.
Trump said he was now targeting Feb. 1 as a potential target date for tariffs to take effect against Mexico and Canada, which he said could be as high as 25%. He said any plans for blanket tariffs are "not ready" just yet.
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Trump has a history of using the threat of tariffs as a governing style.
Urging Mexico to crack down on border crossings in 2019, Trump threatened to slap a tariff on the country within 10 days through the International Emergency Economic Powers Act (IEEPA) but relented after Mexico committed to specific measures.