WEBDESK: The US has imposed steep new trade tariffs on Canada, Mexico, and China, escalating economic tensions and disrupting global markets. The move, announced by former President Donald Trump taking effect on Tuesday, includes a 25% tariff on all imports from Mexico and Canada, except for Canadian oil and energy exports, which will face a 10% tariff.
Additionally, a 10% increase in tariffs on Chinese goods raises the total tariff to 20% on certain products, including smartphones, laptops, and smart devices that were previously unaffected.
The US government has claimed that these steps are necessary due to insufficient action by these countries in stopping the fentanyl opioid shipments into the US.
Canada, Mexico, and China Respond
The US trade tariffs have received swift backlash from affected nations. Canada has announced 25% tariffs on C$30 billion worth of US imports, with additional measures under notice if the US does not reverse its decision. Mexico is also expected to introduce its own countermeasures and trade tarrifs.
Meanwhile, China’s Ministry of Commerce has strongly condemned the decision, accusing the US of shifting blame for the fentanyl crisis.
Chinese officials have warned of retaliatory tariffs targeting key US exports, including agricultural products and industrial goods.
Economic and Global Impact
The US trade tariffs have disrupted $2.2 trillion in annual trade, causing uncertainty for businesses and global supply chains.
Experts warn that the increased tariffs could lead to higher consumer prices, manufacturing slowdowns, and strained diplomatic ties between the involved nations.
With economic tensions rising, analysts are watching closely to see how Canada, Mexico, and China will respond to the US trade tariffs in the coming weeks.
If the situation escalates further, it could have long-term consequences for global trade and economic stability.
Read more: Donald Trump halts Ukraine military aid, concerns over US support
