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The appointment came as Donald Trump renewed his vow to raise tariffs on imports from China, Mexico and Canada.
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Constellation Brands' stock fell as the parent of the Modelo and Corona beer brands could be among the companies most impacted by President-elect Donald Trump's plan to impose tariffs on imports from Mexico.
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Leaders in Mexico and Canada responded to the president-elect's proposed new tariffs. Observers said the plan might just be the first step in negotiations.
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Stock market today: Wall Street hits records despite tariff talk The Associated PressFutures: Titans Offset Tariffs As Bitcoin Tumbles; Big Movers Late Investor's Business DailyAsia markets to open mixed even as Wall Street notches fresh records; investors assess Australia inflation CNBCStock market today: S&P 500, Dow notch fresh records as Wall Street shrugs off Trump's tariff threat
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President Trump threatened to slap hefty tariffs on three of America's biggest trading partners. Similar threats in the past haven't always been carried out.
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The president-elect's threat to hit Canada, Mexico and China with new tariffs is already rocking business and diplomatic relationships and could topple the trade pacts he signed in his first term.
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"Tariff Man" is back, sending shock waves through the foreign-exchange market but leaving major U.S. stock indexes largely unmoved — at least for now.
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It might be months before Trump's tariffs are implemented — but some shoppers are already preparing for potential cost increases and shopping for deals with this in mind.
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Automakers and parts suppliers would struggle if President-elect Donald J. Trump followed through on his threat to impose 25 percent tariffs on imports from Canada and Mexico.
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Automakers like General Motors and Stellantis have major production presences in Mexico and could take a hit from tariffs.
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