Looming tariffs worry Wall Street over earnings hit, inflation pressure

Investors are bracing for a looming hit to U.S. corporate profits and pressure on inflation if President Donald Trump makes good on his tariff threats, with markets seen as not fully factoring in risks from higher levies on foreign imports. President Donald Trump is vowing to issue tariffs as soon as Saturday on Canada, Mexico and China, the three largest U.S. trading partners. As the tariff deadline nears, investors have been trying to gauge whether the potential duties on imports might be a negotiating tool, as Trump and members of his administration have addressed the topic over the past week….