Why in news U.S. President Donald Trump’s tariffs on Canada and Mexico took effect taxing imports from both countries at 25% , with Canadi...
Why in news
U.S. President Donald Trump’s tariffs on Canada and Mexico took effect
taxing imports from both countries at 25%, with Canadian energy products facing a 10% duty.
In retaliation, Canada plans tariffs on over $100 billion of U.S. goods, while Mexico has announced its own retaliatory tariffs, though the specific products are yet to be detailed.
Trump also doubled tariffs on Chinese imports from 10% to 20%, and China responded with its own tariffs on U.S. farm exports, further escalating tensions.
The tariffs raise concerns about inflation and the possibility of a trade war, with Trump believing that such measures will improve the U.S. economy despite warnings from economists.
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