US president Donald Trump has officially imposed new tariffs on imports from Mexico and Canada, escalating tensions with two of America’s biggest trading partners. The new policy introduces a 25 per cent levy on goods from Mexico and Canada, while also doubling tariffs on Chinese imports to 20 per cent.
The move, which affects nearly $2.2 trillion in annual trade, has triggered sharp responses from affected nations, sparking fears of a trade war.
Canadian prime minister Justin Trudeau announced retaliatory tariffs on $20.7 billion (C$30 billion) worth of U.S. imports. Additionally, Trudeau warned that if the U.S. tariffs remain in place after 21 days, Canada will extend the measures to another $86 billion (C$125 billion) worth of American goods. The targeted products include American beer, wine, bourbon, home appliances, and Florida orange juice.
Mexican President Claudia Sheinbaum confirmed that Mexico will respond with its own tariffs on U.S. goods. She announced that details of the targeted products would be revealed in a public event in Mexico City’s central plaza on Sunday (3). The move is expected to intensify the trade conflict between the neighboring countries.
British Finance Minister Rachel Reeves warned that while the UK is not directly targeted by the tariffs, it could still suffer economic consequences due to the slowdown in global trade. Additionally, major European corporations are preparing contingency Read More….
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