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2025-03-04 Economy
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Trade war escalates as US slaps steep tariffs on China, Canada, Mexico
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[GEO.TV] President Donald Trump
...The tack in the backside of the Democratic Party...
's new 25% tariffs on imports from Mexico and Canada took effect on Tuesday, along with a doubling of duties on Chinese goods to 20%, launching new trade conflicts with the top three US trading partners.
The tariff actions, which could upend nearly $2.2 trillion in two-way annual US trade went live at 12:01am EST (0501 GMT), hours after Trump declared that all three countries had failed to do enough to stem the flow of the deadly fentanyl opioid and its precursor chemicals into the US.
Canada and Mexico, which have enjoyed a virtually tariff-free trading relationship with the US for three decades, were poised to immediately retaliate against their longtime ally.
Canadian Prime Minister Justin Trudeau
 ...hereditary prime minister of the Great White North...
said Ottawa would respond with immediate 25% tariffs on C$30 billion ($20.7 billion) worth of US imports, and another C$125 billion ($86.2 billion) if Trump's tariffs were still in place in 21 days. He said previously that Canada would target American beer, wine, bourbon, home appliances and Florida orange juice.
"Tariffs will disrupt an incredibly successful trading relationship," Trudeau said, adding that they would violate the US-Mexico-Canada free trade agreement signed by Trump during his first term. 
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Posted by Fred 2025-03-04 02:49||
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