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China, Canada retaliate against US tariffs

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          🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source
China and Canada are hitting back against US tariffs on their imports that came into force today (4 March). In a statement yesterday (3 March), China's Ministry of Finance said it would bring in "additional tariffs" on a selection of US imports, with tariffs of both 15% and 10% being applied.
The article from MSN discusses the potential for China and Canada to retaliate against the United States due to recent U.S. tariffs on steel and aluminum. The U.S. imposed these tariffs citing national security concerns, which has led to significant backlash from its trading partners. China has already responded by imposing tariffs on $3 billion worth of U.S. goods, including agricultural products, automobiles, and chemicals. Canada, on the other hand, has expressed its intention to retaliate with tariffs on U.S. goods like steel, aluminum, and various consumer products. This tit-for-tat tariff escalation could lead to a broader trade war, affecting global trade dynamics and potentially harming economic growth. The article highlights the concerns of businesses and consumers about rising costs and the disruption of supply chains, while also noting the political motivations behind these trade policies.

Read the Full GlobalData Article at:
[ https://www.msn.com/en-us/money/economy/china-canada-retaliate-against-us-tariffs/ar-AA1Afzcy ]