US Plans Tariff Actions Against Canada, Mexico, China

This week, significant economic developments are anticipated, particularly regarding US tariff actions, as President Trump plans to impose 25% tariffs on Canada and Mexico in response to border issues with illegal drugs. US Commerce Secretary Lutnick indicated that while tariffs will be implemented, the exact levels are still under discussion, suggesting the potential for adjustments. On the European front, the European Central Bank is expected to cut interest rates amid persistent inflation concerns, with a crucial meeting scheduled for Thursday. Additionally, a US jobs report is due, which may influence the Federal Reserve's interest rate decisions, as economists predict a slight dip in job additions. The overall mood among investors is cautious, as the uncertainty surrounding tariffs and economic indicators continues to create volatility in financial markets. Global leaders are also set to discuss Ukraine's situation amid escalating tensions, highlighting the interconnectedness of economic and geopolitical factors.