House passes major budget changes 

The United States House of Representatives has passed a budget framework, which aims to create about $4 Trillion in tax cuts and about $2 trillion in spending restrictions. 

The budget framework was led by House Speaker Mike Johnson, who successfully advocated for increased funding for the military and border security. Overall, the budget reflects the shift to a majority republican congress in control of the budget. 

Tariffs effects continue

In early February, President Donald Trump signed executive orders to impose tariffs on Mexico, Canada, and China. These tariffs included a 25% tariff on imports from Canada and Mexico and a 10% tariff on imports from Canada. The administration cited border security as a major reason that the tariffs were imposed. 

Tariffs on Mexico and Canada were originally set to take place on February 4th, but agreements were reached with both countries to delay the implementation of tariffs. 

In contrast, China has not made any attempt to negotiate with the US, and tariffs on goods coming out of China have proceeded as scheduled. 

Overall, the market has been facing uncertainty, and analysts have been giving various outlooks for the future of the US economy.