Canada's Justin Trudeau announces retaliatory tariffs following Trump's executive order
Canada's Justin Trudeau announces retaliatory tariffs following Trump's executive order
U.S. allies Canada and Mexico said they would implement tariffs on the U.S., a move that signals further economic upheaval among the close trading partners.
cross-posted from: https://lemmy.world/post/25012048
Summary
Trump signed an executive order imposing 25% tariffs on Canadian and Mexican imports—excluding Canadian energy at 10%—plus additional duties on Chinese products.
In response, Prime Minister Justin Trudeau announced a 25% duty on $155 billion in U.S. goods, beginning with $30 billion in tariffs Tuesday.
Mexican President Claudia Sheinbaum indicated reciprocal tariffs, rejecting claims that Mexico tolerates criminal groups trafficking fentanyl and insisting on respect for sovereignty.
Experts warn these tit-for-tat measures could drive up costs, disrupt supply chains, and mirror the previous U.S.-China trade war, possibly harming security.
