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Trump Slaps Tariffs on Mexico, Canada, China
Hindustan Times Chandigarh
|February 03, 2025
Trump triggers tariff wars
WASHINGTON: President Donald Trump has imposed a 25% tariff on all US imports from Mexico and Canada, and 10% on Chinese imports, citing the failure of the first two countries to stem the flow of illegal immigrants and the complicity of all three countries in the smuggling of fentanyl into the US. In what analysts see as the opening of a broader trade war, the tariffs take effect on Tuesday, February 4. Canadian energy products face a reduced 10% tariff.
Following Trump's executive orders on Saturday evening, Mexico, Canada, and China immediately announced retaliatory tariffs. Trump threatened further increases in response to these countermeasures.
US economists warned of inflation risks, particularly given North America's integrated economy under part of a free trade pact between US, Canada and Mexico, that was signed, ironically, under Trump in his first term. Industry associations across sectors strongly opposed the decision.
Cette histoire est tirée de l'édition February 03, 2025 de Hindustan Times Chandigarh.
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