There are some moving parts here with the retaliation clause as Canada has pledged to announce (if not implement) counter-tariffs in an hour. A US President has also never used the International Emergency Economic Powers Act in this way and that's likely headed to a court challenge, which I expect he will lose.
I will be keeping a close eye on the news on the weekend to see where this heads. If it doesn't die down then we're going to have a wild day in the markets on Monday.
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