US stocks rose in afternoon trading on news that both Canada and Mexico will not be a part of President Trump’s steel and aluminum tariff policy.
The Dow Jones Industrial traded 100 points higher and the Nasdaq rose by 0.5%.
News on the tariff regime has been impacting equities markets as the US under President Trump looks to take a protectionist stance.
The Associated Press is reporting that Trump’s new tariffs will take effect in 15 days time with Canada and Mexico granted an exemption.
Earlier today Trump wrote: “We have to protect and build our steel and aluminum industries while at the same time showing great flexibility and cooperation toward those that are real friends and treat us fairly on both trade and the military.”