President Trump moved Thursday to shield thousands of goods from 25% tariffs he levied on imports from Canada and Mexico this week but said he was not backing away from a plan to use tariffs to equalize trade imbalances and return manufacturing jobs to the U.S.
The president signed two executive orders providing a monthlong exemption for all goods in the 2020 United States-Mexico-Canada trade agreement.
On Wednesday, Mr. Trump carved out exemptions for auto manufacturers. The tariffs had wiped out months of gains on Wall Street.
After the closing bell, the Dow Jones Industrial Average was down 427 points, or nearly 1%, as investors reacted negatively to Mr. Trump’s dramatic shifts in tariff strategy. The tech-heavy Nasdaq lost 2.6% in trading Thursday.
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The president signed two executive orders providing a monthlong exemption for all goods in the 2020 United States-Mexico-Canada trade agreement.
On Wednesday, Mr. Trump carved out exemptions for auto manufacturers. The tariffs had wiped out months of gains on Wall Street.
After the closing bell, the Dow Jones Industrial Average was down 427 points, or nearly 1%, as investors reacted negatively to Mr. Trump’s dramatic shifts in tariff strategy. The tech-heavy Nasdaq lost 2.6% in trading Thursday.
More

Trump shifts tariff strategy amid market turmoil
The move comes a day after the president carved out exemptions for auto manufacturers and amid Wall Street turmoil over the tariffs that have wiped out months of gains.
