MOLINE- Every Monday on Good Morning Quad Cities, investment adviser Mark Grywacheski joins us live on the air to talk about a range of financial issues and topics.
Monday, June 4, Grywacheski discussed the U.S.' decision to impose tariffs on steel and aluminum imports from the European Union, the May employment report, and where the country is on inflation. National stocks are starting the new trading week up after a big drop Thursday, May 31. Local stocks were up as well, as Deere and Company started up by $3.88, Monday morning.
Monday, Grywacheski focused on Mexico, Canada, and the EU's retaliation efforts to the tariffs. He says the EU for instance, plans on implementing its own tariffs on American products like bourbon, tobacco, and blue jeans. Grywacheski says the EU supports a free trade market, but President Donald Trump is firing back with his own stance to the union.
"So President Trump is saying, 'Okay, if that's true, why do you impose tariffs, quotas, restrictions, on American products that enter your country?" he said Monday. "Reduce some of these barriers, or I'm going to impose these tariffs."
Grywacheski says Mexico will impose tariffs on U.S. purchases like fruits and pork. Canada will do the same on things like lumber and paper.
Your Money With Mark airs live on Good Morning Quad Cities every Monday between 5 a.m. and 5:30 a.m. To live stream our newscast from our website, click here.