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Trump to speak to Canadian, Mexican leaders over tariffs
The New Indian Express Vellore
|February 04, 2025
The move comes after global markets sank on fears over the impact on global economy
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US President Donald Trump said he will discuss the punishing tariffs he has levied on Canada and Mexico with both countries on Monday, as markets sank on fears over the impact on the global economy.
The 25% duties — footed by American companies importing from Mexico and Canada — sent European and Asian stocks slumping at the open Monday.
The Mexican peso and Canadian dollar also sank against the greenback, while oil jumped despite Trump placing the levy on Canada's energy imports at 10 percent to limit a spike in fuel prices.
Besides the US neighbours, Trump also hit China with a 10% tariff in addition to existing levies.
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