US so-called ‘reciprocal’ tariffs set to take effect, triggering widespread opposition, market uncertainty

Our objective is a negotiated solution. But of course, if need be, we will protect our interests, our people and our companies,

von der Leyen said

With challenging times ahead, Prime Minister Carney and President Sheinbaum emphasized the importance of safeguarding North American competitiveness while respecting the sovereignty of each nation,

Carney's office said in a statement

The lack of certainty and the shroud of secrecy has been driving the market insane,

said Jay Woods, chief global strategist at Freedom Capital Markets

I think that we're going to have some immediate tariffs, at least on that, so called 'dirty 15' tomorrow, it might be expanded out a little bit. I do think that we'll also get investigations into the rest of the world,

he said

The silver lining is that after a 10 percent correction by the S&P 500, weekly indicators, tracking 2-4 month swings, are increasingly oversold for the S&P 500 and most growth and cyclical stocks as they test next technical support,

technical strategist Robert Sluymer wrote in a Tuesday note

Anshul Guptaassistant vice president

While the higher event risk baked in creates room for a potential relief rally in case of less aggressive tariffs, the risk arguably is still to the downside, with markets likely underpricing the trade risks,

Barclays assistant vice president Anshul Gupta wrote in a Tuesday note

Trump, tariffs, massive uncertainty—how can you do business planning with all of this uncertainty and the daily changes in direction made by the Trump administration?”

one computer and electronic manufacturer told the Federal Reserve Bank of Dallas in a survey released Monday

Karoline Leavittwhite House press secretary

The president will be announcing a tariff plan that will roll back the unfair trade practices that have been ripping off our country for decades. He’s doing this in the best interest of the American worker,

White House press secretary Karoline Leavitt told reporters on Monday

It’s natural for people to expect higher prices because we haven’t seen a trade war like this since McKinley,

said Art Hogan, chief market strategist at B. Riley Wealth Management

We will learn a very hard lesson very fast and maybe not make the mistake again,

York said

You’d start with all countries, so let’s see what happens,

Trump said Sunday

I wouldn’t be surprised if the average person didn’t notice tariffs during Trump’s first term in their day-to-day lives,

said York, the Tax Foundation executive

Tariffs! We need to make decisions, but the ball is constantly moving. This is truly ridiculous,

the manufacturing executive wrote

We’ve never seen anything like this. It’s unprecedented and radical,

said Erica York, vice president of federal tax policy at the Tax Foundation, a right-leaning think tank

Tariff uncertainty has put an unexpected stranglehold on markets,

Anthony Saglimbene, Ameriprise’s chief market strategist, wrote in a report Monday

Does President Donald Trump want a recession? He is going to get one if he continues to pursue his chaotic tariff policies,

Ed Yardeni, president of investment strategy firm Yardeni Research, wrote in a report on Monday

That’s a really important area and [one] we wouldn’t be able to negotiate on and the U.S. understands that position as do other countries,

he said

I believe from where we are at the minute, the president wants this ‘Liberation Day’ tomorrow to apply to every country in the world and there’ll be no exemptions on that first day towards that,

he said

I hear Americans when they say some others have taken advantage of the rules. I agree. We also suffer from it. So let’s work on it,

Von der Leyen said

Let me be clear: Europe did not start this confrontation, we think it is wrong. But my message to you today is that we have everything we need to protect our people and our prosperity,

von der Leyen told a session of the European Parliament on Tuesday