Presented by BP.

Good morning, everyone. I'm Playbook co-author Eugene Daniels. It is Tuesday, November 26th.

Here is what's driving the day. If there was any doubt that President-elect Donald Trump

feels emboldened right now and why Yesterday was your answer. In a pair of

Post or Truth Social last night, the president-elect announced a sweeping new set of tariffs.

Canada and Mexico, our closest trading partners, and the number one and number two

purchasers of U.S. made goods will face a new 25% tariff on all their U.S.-bound exports.

In a follow-up post, he further announced plans to implement an additional 10% tariff on all products

from China. The moves, he said, are an effort to hold the country's accountable for driving

the country's problem with the legal

immigration and the flood of drugs, namely fentanyl, coming through the border.

There are a lot of questions this morning about how this could all shake out and what it could

actually mean.

The first and biggest question lies in how serious Trump is here.

He has made similar threats about tariffs in the past that he never actually

followed through on when he was president. That included a 200% tariff on Mexican cars, up to 100% on

Mexican products, and 60% or more for products coming from China. None of those actually

turned into policy. There's a question of how the

United States-Mexico-Canada agreement, the trade agreement made by Trump during his first term,

plays here. His proposal would seemingly violate that trade deal. The place to watch today is the

markets, how they receive these announcements and whether any negative

reactions slows Trump's rollout or that tough talk. The why Trump is probably feeling in bold and comes

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