Escalating Trade War: U.S. Tariffs Trigger Global Countermeasures
The U.S. has imposed new tariffs on Canada, Mexico, and China, citing concerns over illegal immigration and drug trafficking.
In response, Canada announced a 25% tariff on $155 billion of U.S. goods, while Mexico introduced economic countermeasures. China opposed the move but has yet to retaliate. Trump suggested Canada should join the U.S. to avoid tariffs, further fueling tensions.
Experts warn that the escalating trade war could drive up consumer prices, disrupt supply chains, and lead to job losses across all affected economies.
Clever Robot News Desk 2nd February 2025
