Trump orders high tolls on products from Mexico, Canada, China

BRAND-NEW YORK/SINGAPORE (Reuters) -UNITED STATE President Donald Trump on Saturday gotten tolls of 25% on Canadian and Mexican imports and 10% on products from China beginning on Tuesday to resolve what he calls a nationwide emergency situation of fentanyl and prohibited migration putting right into the united state

Here are some remarks from planners and capitalists:

NICK TWIDALE, PRIMARY MARKET EXPERT, ATFX GLOBAL, SYDNEY

“I think we will see some gapping (on Monday) in the respective currencies. There was still some hope that there would be some form of reprieve, but that hasn’t eventuated so we will see markets react. It’s negative for CAD, MXN and CNH, as well as overall risk.

“Equities will open on the back foot in the Asian session, then we will be monitoring newswires hard again for further updates.”

NICK FERRES, CIO, VIEWPOINT PROPERTY ADMINISTRATION, SINGAPORE

“My sense is to fade any negative reaction at the open in Asia, especially since there is room for negotiation. The tariffs are probably not as bad as feared, especially on China.”

MOH SIONG SIM, PLANNER, FINANCIAL INSTITUTION OF SINGAPORE, SINGAPORE

“The tariffs — along with the possibility of tit-for-tat retaliation — will hurt growth in Mexico, Canada and China and, to a lesser, extent, the U.S., when it kicks in on Tuesday. The dollar is likely to be supported given the tariff shock.”

DUSTIN REID, PRIMARY PLANNER, FIXED REVENUE, MACKENZIE FINANCIAL, TORONTO

“I think it’s quite negative for equities – they will be sold off, along with other risk assets. If the tariffs are implemented as seems likely now, they will have a very significant impact on price levels in the U.S. very quickly, which also will put a dent in equities and high-beta assets. I think it’s very likely we’ll see reciprocal tariffs announced. I’m assuming that happens as soon as this evening.”

MARK MALEK, PRIMARY INVESTMENT POLICE OFFICER, SIEBERT FINANCIAL

“Until now the market has really been on Trump’s side, but this is something where that could change and the market could challenge him for the first time. The unknown will perturb the market, no question about it.”

RICK MECKLER, COMPANION, CHERRY LANE INVESTMENTS, HOUSEHOLD FINANCIAL INVESTMENT WORKPLACE, NEW VERNON, NJ

“These generalized tariffs that cover a much wider range of products and are targeted toward social policy have usually proven to be a mistake. I think that’s why the market has looked at this skeptically, and with anxiety, all along. With any delay in implementation, there will be some view that this is still a negotiating ploy.”