Investing.com -- The S&P 500 and Dow closed at a record highs Tuesday, as investors assessed President-elect Donald Trump's threat to impose higher import tariffs on China, Canada and Mexico.Trump said in a social media post on Monday that he will impose a 25% tariff on all imports from Canada and Mexico, citing the inflows of allegedly illegal immigrants and drugs into the US through open borders with the two countries.
Trump’s tariff threats ramped up concerns over a renewed global trade war between the world’s biggest economies - a trend seen through much of his first term. Such a scenario bodes poorly for global trade, especially for countries with heavy trade exposure to the US.from the last Federal Reserve policy-setting meeting later in the session, as they look for clues over whether the central bank will continue cutting rates next month.