Trump Ignites Trade Wars: Steep Tariffs Slapped on Canada, Mexico, and China
2025-03-04
Reuters
The US has officially entered a trade war with its major partners as President Donald Trump imposes 25% tariffs on imports from Mexico and Canada. The move, which also includes doubled duties on Chinese goods, is expected to have significant economic implications. As global trade tensions escalate, the US, Mexico, and Canada are bracing for impact. With the tariffs now in effect, experts predict a potential decline in international trade, increased prices for consumers, and a rise in trade deficits. The situation is being closely monitored by economists and policymakers, who are warning of a potential global economic downturn. Key terms: trade wars, tariffs, international trade.