Markets continue to downplay the threat of new tariffs on U.S. imports, potentially reading the decision not to nominate Lighthizer, known as a hardline protectionist, as evidence that the threat of tariffs will be used as a negotiating tool rather than as permanent administration policy.

Trump’s proposed tariffs leave Europe particularly vulnerable but undervaluation of European equities provides a good opportunity for investors amid the chaos. Read how

General Motors, Ford and Stellantis shares slid Tuesday after President-elect Trump threatened 25% tariffs on all imports from Canada and Mexico. The move by the new administration would likely stop American car demand in its tracks,