Investors took comfort in U.S. President Donald Trump’s commitment to cutting taxes in a major address to Congress but voiced concerns about his continued focus on tariffs and a proposal to ditch a semiconductor chip manufacturing subsidy.
The president’s remarks come at a pivotal point for markets, as the post-election wave of exuberance and excitement has given way to anxiety that Trump’s policies are weighing on economic growth and contributing to inflation.
Trump urged Congress to extend his 2017 tax cuts on Tuesday, a proposal which investors have welcomed. Trump, however, said he would impose reciprocal tariffs on April 2, a move that could roil financial markets.
Suzanne McGee & Carolina Mandl | Yahoo Finance