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Trump Signs Order to Impose Tariffs; Canada/ Mexico/ CN Vow Retaliation
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US President Donald Trump has ordered tariffs on Canada, Mexico, and China in a bid to pressure these countries to stop fentanyl and illegal immigration into the US, according to foreign reports. Under the signed executive order, Trump slapped a 25% tariff on all Mexican goods and most Canadian goods and a 10% additional tariff on Chinese goods. In addition, a 10% tariff has been imposed on Canadian energy products. Canadian Prime Minister Justin Trudeau immediately announced a 25% tariff on US$155 billion worth of US goods, which involve beer, wine, and household appliances. Tariffs on US$30 billion worth of goods will take effect tomorrow (4th), while the remaining US$125 billion in tariffs will be effective 21 days later. Mexican President Claudia Sheinbaum instructed the country's economy minister to implement countermeasures, but details of which have not been disclosed. China's Ministry of Commerce also stated that it would file a complaint with the World Trade Organization and mentioned countermeasures, but did not provide further specifics. AAStocks Financial News |
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