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US president Donald Trump has put
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tariffs into Force against Canada and
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Mexico and upped tariffs against China
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the move which Trump has long threatened
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to do has affected Global markets and
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sparked fears of the prospect of a wider
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global trade War so what's happened and
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how has the world reacted at midnight
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local time Goods imported from Canada
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and Mexico into the US will now be taxed
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at 25% while Canadian Energy Products
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will be subject to a 10% tariff what's
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more the 10% tariff Trump imposed on
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Chinese Imports in February is now
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doubling to 20% tariffs on Canada and
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Mexico Were Meant to start last month
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but Trump agreed to a 30-day suspension
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to negotiate with the two largest US
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trading partners the President says he
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wants the new trade policy to address
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drug trafficking and illegal immigration
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and wants the US trade imbalance the
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difference between goods in and goods
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out to close calling tariffs a powerful
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weapon speaking at the White House on
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Monday he said there was no room left
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for Mexico or for Canada adding that the
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tariffs were all set to go into effect
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tomorrow Trump has also urged other
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nations to build their car plants in the
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United States saying that in which case
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they have no tariffs how has the world
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reacted Canadian Prime Minister Justin
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Trudeau has said Canada will hit back
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with 25% tariffs against 155 billion
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Canadian dollars worth of us Goods he
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said there was no justification for the
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US's actions and that Canada will not
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let this unjustified decision go
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unanswered while China has announced it
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will impose additional tariffs of up to
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15% on Imports of key us farm products
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including chicken pork soy and beef and
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imposed sanctions on some us biotech
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Aviation and defense firms Mexico is
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expected to announce its own response to
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us tariffs later today what about the
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financial markets Trump's
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unpredictability has given rise to fears
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of higher inflation or even a wider
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trade War investment analyst Russ mold
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from AJ Bell said markets continue to be
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taken back by the pace and ferocity of
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Trump's decisions he added that
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naturally the recipients have started to
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retaliate and that has raised the
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prospect of a full blade trade War
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Lindsey James investment strategist at
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quilter commented that the overnight
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announcement had prompted a sell-off in
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US financial markets calling it yet more
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unexpected and economically illogical
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policy from the White House James added
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that there was currently no clear route
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to deescalation and suggested
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retaliation and lower growth were the
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most likely outcomes what do you think
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the impact of the new tariffs will be
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let us know your thoughts in the
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comments and follow cityam for all the
