Tue Mar 04 05:50:00 UTC 2025: ## Trump Tariffs Hit Canada, Mexico; US Markets Show Cautious Optimism
**NEW YORK** – US stock futures edged higher Tuesday morning, despite the implementation of President Trump’s broad tariffs on Canada and Mexico. Futures for the S&P 500, Nasdaq, and Dow Jones Industrial Average all saw modest gains, suggesting a cautious optimism among investors.
The tariffs, which impose a 25% duty on imports from Canada and Mexico, went into effect as planned after negotiations failed to reach a deal. President Trump stated on Monday that there was “no room left” for further delays. Canada immediately retaliated with its own tariffs, targeting $107 billion worth of US goods.
Adding to the trade tensions, President Trump also signed an executive order doubling US tariffs on Chinese goods from 10% to 20%, citing insufficient action on the illicit drug crisis.
Meanwhile, news of Nvidia chips being smuggled into China despite export controls sent the tech giant’s stock price plummeting to its lowest point since September, though it recovered slightly after the market closed.
Investors will be closely watching earnings reports from major retailers Best Buy and Target before the market opens Tuesday, and from Crowdstrike and Nordstrom after the close. The market’s reaction to these reports, coupled with the ongoing trade disputes, will likely determine the direction of the market in the coming days.
First Piper 