As Trump’s tariffs on Mexico, Canada, and China take effect, both Canada and China have outlined countermeasures. Canada will impose a 25% tariff on $155 billion CAD of U.S. goods. China criticized the tariffs aimed at their products as unjustified and vowed to protect their interests, while Mexico prepares its response in light of the developing situation.
As President Donald Trump’s tariffs are set to take effect, Canada and China have prepared retaliatory measures. Canadian Prime Minister Justin Trudeau announced that Canada will impose tariffs on U.S. imports starting Tuesday in response to the U.S. levies. Trudeau emphasized that these tariffs would disrupt a successful trading relationship and force American consumers to pay higher prices for goods, potentially leading to significant job losses.
Canada plans to implement a 25% tariff on American goods totaling $155 billion CAD. This retaliation begins with taxes on $30 billion CAD in goods immediately. Trudeau stated that the U.S. tariffs lack justification and contradict the trade agreements established during Trump’s last administration.
In China, the commerce ministry condemned the U.S. tariffs directed at its products, particularly those associated with fentanyl production. China has promised countermeasures to defend its rights and interests, accusing the U.S. of shifting blame and imposing unreasonable tariffs that adversely affect international relations.
Mexico’s approach to Trump’s tariffs is still unfolding, with President Claudia Sheinbaum indicating that the country is prepared to respond. Although specific retaliatory measures are pending a formal announcement, Sheinbaum hinted at a unified plan within Mexico in reaction to the U.S. government’s decisions.
Trump’s tariffs, which include a 25% levy on goods from Mexico and Canada and a hike to 20% on Chinese imports, raise concerns of a North American trade war, potentially increasing inflation and hindering economic growth. The administration believes these tariffs will enhance U.S. manufacturing and attract foreign investment. However, investor Warren Buffett criticized these measures, labeling tariffs as detrimental taxes on consumers and likening them to acts of war in economic terms.
The imposition of tariffs by the U.S. has prompted Canada and China to announce countermeasures, with Canada planning a significant tariff on U.S. goods and China vowing to protect its interests against U.S. imports. Mexico awaits President Trump’s decisions to formulate its response. These tariff strategies raise concerns about escalating trade tensions and their potential economic impact.
Original Source: www.ndtv.com
