Canada declares tariffs, Introduction
Canada declares tariffs, Following the announcement of retaliatory tariffs by Canada, the United States levied an additional 25 percent levy on both Canada and Mexico. This is Canada’s response to the US tariffs, which Prime Minister Trudeau stated were put into effect this morning. He declared that $155 billion worth of American goods will be subject to 25% tariffs. Trudeau stated that “Ottawa has imposed a 25 percent retaliatory tariff on $30 billion of American imports, and tariffs will be imposed on another $125 billion of American products within 21 days.”
Asian stock markets
It is important to note that the American, European, and Asian stock markets are all exhibiting a bearish trend as a result of the imposition of new tariffs. The worldwide markets have declined as a result of the trade war’s escalation. All of the gains achieved following Trump’s election were erased when the S&P 500, the main indicator of Wall Street, plummeted precipitously. Sheinbaum said she and Trump had agreed to talk about the tariffs over the phone, most likely on Thursday.
Conclusion
Under the latest U.S. measures, several Chinese imports that were already targeted during Trump’s first term—such as clothes, machinery, electronics, and home appliances—will be subject to levies of up to 45%. A ten percent charge will be applied on other American goods, such as soybeans, sorghum, beef, pork, fish, dairy products, fruits, and vegetables. Leidos and General Dynamics Land Systems are among 15 U.S. corporations that have been placed on a list that prohibits them from importing items that could be used for military reasons. Ten more American businesses were prohibited from doing business with or investing in China.