Trump’s Day 1 actions did not fully clarify his priorities on this front. In his inaugural speech, the president reiterated his broad commitment to protectionism. Meanwhile, his administration prepared to launch federal investigations into America’s trade deficit in general, as well as the trade practices of China, Mexico, and Canada in particular.

U.S. stocks edge higher as Wall Street reacts to Trump's second term, with the S&P 500 up 0.5% and the Dow climbing 0.8%. Strong earnings from companies like Schwab and 3M boost investor confidence.