Wells Fargo Highlights Cautious Optimism Over Tariff Compromise

According to BlockBeats, on March 5, Wells Fargo indicated that there is emerging optimism regarding a potential compromise on tariffs, though caution remains necessary. Kenn Brendan McKenna, a strategist based in New York for Wells Fargo, stated, "I have realized that any statements not directly from U.S. President Donald Trump should not be immediately acted upon or trusted. Therefore, I continue to exercise caution and prefer risk aversion. However, if tariffs are reduced and an agreement is reached, the Canadian dollar, Mexican peso, and the broader foreign exchange market could experience some relief-driven rebounds." Previously, the U.S. Secretary of Commerce suggested that President Trump might compromise on tariffs with Canada and Mexico, potentially announcing reductions as soon as tomorrow.