Swiss chocolate maker Lindt & Spruengli is shifting more of its production of truffles and other confections to Europe as it looks to sidestep Canada’s counter-tariffs imposed on the US.

Reuters reports:

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The Financial Post reports:

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Target (TGT) issued a first quarter profit warning Tuesday after a second round of tariffs on goods from China took effect, Yahoo Finance’s Brian Sozzi reports.

“In light of ongoing consumer uncertainty and a small decline in February net sales, combined with tariff uncertainty and the expected timing of certain costs within the fiscal year, the company expects to see meaningful year-over-year profit pressure in its first quarter relative to the remainder of the year,” Target said in a statement.

Walmart (WMT) similarly issued soft full-year guidance several weeks ago, pinning the blame on tariff uncertainty.

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President Trump’s second-term economic agenda is coming at a potentially perilous moment for the US economy.

As Yahoo Finance’s Brett LoGiurato writes in today’s Morning Brief newsletter, economic growth forecasts have tumbled in recent days and layoffs are jumping. Consumers are back to feeling quite sour about the state of the economy, and they’re showing tin their spending patterns.

From the Morning Brief:

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China’s response to the second wave of tariff action from Trump has been less aggressive than many feared, signaling Beijing doesn’t want to turn up the heat on the trade war.

Bloomberg reports:

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Beijing is responding to President Donald Trump’s doubling of tariffs against China by imposing tariffs on a range of US farm products. All part of a series of retaliatory measures against Washington, potentially disrupting a vital trade segment between the two economic giants.

The Associated Press reports:

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After speculation over whether tariffs would take effect, US President Donald Trump’s plan for wide-ranging tariffs against Canada and Mexico has occurred with no further delays.

Yahoo Finance’s Ben Werschkul reports:

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The Canadian government has unveiled a comprehensive set of counter-tariffs on US-made goods after President Donald Trump confirmed that his administration would impose tariffs on Canada and Mexico with “no room left” for delay.

Bloomberg reports:

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Canada’s foreign minister has declared that the country has wide-ranging counter-tariffs prepared on US import in response to President Donald Trump’s confirmation that his administration will impose duties on Canada and Mexico starting Tuesday.

Bloomberg reports:

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As President Trump’s latest tariff deadline draws near, here’s a look at the upcoming tariffs the administration has promised:

Stocks fell Monday, with losses accelerating the final hour of trading, after President Trump indicated new levies against Mexico and Canada will go into effect tomorrow.

The S&P 500 (^GSPC) fell 1.7%, posting its worst day of 2025, while the tech-heavy Nasdaq Composite (^IXIC) dropped 2.6%. The Dow Jones Industrial Average (^DJI) fell nearly 650 points, or almost 1.5%, as the major US indexes came off a volatile week and a losing February.

Tech led the sell-off, with shares of Nvidia (NVDA) tanking more than 8%.

Read more about Monday’s market action here.

Bloomberg reports:

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President Trump affirmed that 25% tariffs on imports from Canada and Mexico will go into effect Tuesday, with no further delays.

“Reciprocal tariffs start on April 2,” Trump told reporters on Monday afternoon. “I wanted to make it April 1, but I didn’t want to … go April Fool’s Day.”

Trump initially delayed tariffs on the US’s top trading partners in February by one month while the countries engaged in trade talks. Today, however, Trump said he would move forward with the tariffs, as there was “no room left” for Mexico and Canada to avoid them.

“Tariffs 25% on Canada and 25% on Mexico and that will start,” Trump added.

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Berkshire Hathaway (BRK-B, BRK-A) chairman and legendary investor Warren Buffett offered his thoughts on President Trump’s tariff policy Sunday.

“Tariffs are actually — we’ve had a lot of experience with them — they’re an act of war, to some degree,” Buffett said in a CBS News interview on Sunday.

He noted that, over time, tariffs act as a tax on goods.

“I mean, the Tooth Fairy doesn’t pay ‘em!” Buffett added. “And then what? You always have to ask that question in economics. You always say, ‘And then what?'”

Buffett has spoken out against tariffs in the past. In 2016, he stated that he supported the president but that tariffs were a “very bad idea.”

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Ontario Premier Doug Ford said he is planning to take retaliatory measures if US tariffs on goods from Canada go into effect on March 4.

Speaking to a mining conference in Toronto, Ford floated the idea of Buy Ontario legislation that would prioritize Ontario products in $30 billion worth of government procurements each year.

From The Canadian Press:

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President Trump signaled his next target for tariffs on Monday: agricultural imports.

Trump posted on social media that he plans to implement tariffs on “external” agricultural products starting April 2 but did not offer further details on whether there would be any exceptions.

“To the Great Farmers of the United States: Get ready to start making a lot of agricultural product to be sold INSIDE of the United States,” Trump wrote on Truth Social. Tariffs will go on external product on April 2nd. Have fun!”

Also on April 2, Trump is expected to impose reciprocal tariffs and new duties on cars, chips, and pharmaceuticals.

Read more here.

Yahoo Finance’s Ines Ferré reports:

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Yahoo Finance’s Pras Subramanian reports:

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