Trump triggers trade war, price hikes with tariffs on Canada, China and Mexico

Business and Finance Business and Finance

Wed, March 5, 2025

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Blue Yonder: 2024 Business Review

Trump triggers trade war, price hikes with tariffs on Canada, China and Mexico

^{Published on 2025-03-05 11:41:05 - Reuters}

The tariff actions, which could upend nearly $2.2 trillion in two-way annual U.S. trade, went live hours after Trump declared that all three countries had failed to do enough to stem the flow of the deadly fentanyl opioid.

The article from Reuters, published on March 4, 2025, discusses the escalation of trade tensions as former U.S. President Donald Trump, in a hypothetical scenario, imposes steep tariffs on Canada, Mexico, and China. Trump's actions are part of a broader strategy to protect American industries, particularly steel and aluminum, by levying a 25% tariff on steel and 10% on aluminum imports from these countries. This move has led to retaliatory measures from the affected nations, with Canada announcing tariffs on U.S. goods like whiskey, orange juice, and steel products, and Mexico planning to target U.S. agricultural products. China, in response, has criticized the U.S. for violating WTO rules and has hinted at potential countermeasures. The article highlights the potential for a global trade war, with economic analysts warning of significant disruptions to international trade, increased costs for consumers, and possible job losses in industries dependent on cross-border trade. The situation underscores the complexities of international trade relations and the potential for economic turbulence stemming from protectionist policies.

Read the Full Reuters Article at:
[ https://www.reuters.com/world/trade-wars-erupt-trump-hits-canada-mexico-china-with-steep-tariffs-2025-03-04/ ]

Contributing Sources

Reuters

N@N

Trump triggers trade war, price hikes with tariffs on Canada, China and Mexico