Donald Trump’s first day back in at the White House appears set to be one without major action on his biggest economic initiative — tariffs.
The delay was a move perhaps designed to avert market volatility on the 47th president’s first day back in power even as a range of experts warned it offered little signal that major trade action isn’t in the offing.
And it appears Trump’s initial move had the intended effect. While US stock markets were closed on Monday, S&P 500 futures were still open for trading and rose while the US dollar index dropped from a nearly two-year high amid signs tariffs would be delayed.
But a Monday report from the Wall Street Journal indicated day one plans from the new administration to outline Trump’s trade vision without immediate tariffs. An incoming White House official referred a question on the topic Monday morning to the report and declined to offer additional details.
“What he’s doing today is he’s kicking that can down the road,” Jon Hilsenrath, founder of Serpa Pinto Advisory, said in a Yahoo Finance interview. “I think the markets are going to love the fact that we’re not seeing him coming right out on tariffs.”
