Washington: US President Donald Trump has announced sweeping new tariffs on all goods imported from America’s three largest trading partners, China, Mexico, and Canada. Trump stated that the US would impose tariffs beginning on Tuesday of 25% on Canada and Mexico, as well as an additional 10% tax on China. Canadian energy faces a lower 10% tariff. The president had threatened to impose the import taxes if the three countries did not address his concerns about illegal immigration and drug trafficking.

According to News.LK, both Canada and Mexico have stated they are preparing retaliatory tariffs of their own. The move by Trump has been met with significant pushback from these neighboring countries, who are key allies and significant players in the global trade network. The announcement marks a significant escalation in Trump’s trade policies, which have often focused on renegotiating trade agreements and addressing trade imbalances.

The decision to impose tariffs comes amid ongoing discussions and negotiati
ons between the US and its trading partners. The tariffs are expected to impact a wide range of industries and could have far-reaching implications for international trade and economic relations. The response from Canada and Mexico indicates a potential trade war that could affect global markets.