Donald Trump imposes new tariffs on Mexico, Canada and China
Mexican President Claudia Sheinbaum and Canadian Prime Minister Justin Trudeau have announced retaliatory taxes on American goods.
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United States President Donald Trump on Saturday signed an executive order introducing new tariffs on Mexico, Canada and China, citing the need to curb the flow of drugs and undocumented immigrants into the country.
As per the order, starting Tuesday, a 25% tariff would be imposed on goods from Mexico and Canada, except energy products, which would be taxed at 10%. A 10% tariff would be imposed on goods from China.
Hours after Trump’s announcement, Mexican President Claudia Sheinbaum and Canadian Prime Minister Justin Trudeau announced retaliatory tariffs on the US. On the other hand, China said it would challenge Trump's move at the World Trade Organization and take other “countermeasures”, reported Reuters.
On Monday, Trump had vowed to impose tariffs on India and Brazil as well.
His announcement on Saturday could lead to significant price hikes for everyday items like avocados, sneakers and cars in the country, reported CNN. It could also have ripple effects on industries, including farming, fishing and auto production.
In Canada and Mexico, key sectors such as auto manufacturing and mineral processing are expected to experience disruptions.
Rejecting Trump’s claims that the Mexican government had alliances with criminal organisations, Sheinbaum said in a social media post that she was instructing her economy minister to implement retaliatory tariffs but gave...
