🚀 Trump reverses decision to increase tariffs on Canada

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Market Overview
Read time 1.4 minutes

Year To Date Performances:

1. President Donald Trump has reversed his decision to raise tariffs on Canadian steel and aluminum to 50%, following Ontario Premier Doug Ford’s move to pause a retaliatory 25% surcharge on U.S. electricity exports. The tit-for-tat trade war had escalated after Trump’s initial tariffs, prompting Ford to warn of a "Trump recession" and threaten to cut off Ontario’s energy exports to the U.S. While the immediate tariff hike is off the table, Trump continues to demand Canada drop tariffs on U.S. dairy products and has floated new auto tariffs for April 2. He also reiterated his push for Canada to become the “Fifty First State.”

2. Reddit shares rebounded over 10% on Tuesday, recovering from a three-day slump tied to a broader tech sell-off. A Loop Capital analyst note calling the recent 50% stock drop “excessive” and reaffirming a buy rating helped drive the rally. Despite February’s weaker-than-expected user numbers due to a Google search change, Reddit’s Q4 sales surged 71%, the fastest since 2022. Analysts argue Reddit remains one of the strongest-performing stocks, with potential growth from advertising improvements and data licensing. The broader tech sector remains under pressure from Trump’s tariffs and recession fears.

3. Ukraine has agreed to a U.S.-negotiated 30-day ceasefire if Russia also accepts, marking a potential turning point in the three-year war. The deal, announced after talks in Saudi Arabia, prompted the U.S. to resume intelligence-sharing and security assistance to Ukraine. Secretary of State Marco Rubio said, “Ukraine is ready to start talking and stop shooting,” while President Zelenskyy emphasized that the ceasefire would cover all hostilities along the front line. The U.S. and Ukraine also agreed to fast-track an agreement on Ukraine’s critical mineral resources, but the next move rests with Russia.

4. Headlines

   1. Markets fell, with the S&P 500 posting back-to-back losses at the start of the week and the DOW dropping 450 points in response to Trump’s tariffs.

   2. Donald Trump plans to remove student loans from the purview of the Department of Education.

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