On February 1, 2025, Trump announced a 25% tariff on imports from Canada and Mexico, and a 10% tariff on Chinese goods, citing concerns over illegal immigration and d*rug trafficking.
In swift retaliation, Canada has unveiled plans to impose 25% tariffs on $155 billion worth of U.S. goods, aiming to make the U.S. feel the economic impact of the tariffs.
Financial markets have reacted strongly to these developments. The Canadian dollar’s significant depreciation reflects concerns over the potential negative impact on Canada’s economy. Economists warn that the escalating trade tensions could harm global economic growth and lead to increased inflation.
The situation remains dynamic, with potential for further economic implications as both countries proceed with their respective tariff plans.
| Posted: at | |
TRENDING GISTS 
Ex Madrid Player, Xabi Alonso Seals Managerial Move To Real Madrid As Ancelotti Bows Out
EFCC Roars, Vows Tompolo Is Not Above The Law And Will Be Prosecuted
I'm No Longer Interested, My Spirit Has Left There - Fubara Speaks on Returning As Rivers Gov. (VID)
Panic In Abuja As Pastor Shoots Two Immigration Officers After Being Mistaken Them For Robbers
Retired Teacher, Mallam Kabiru Killed, Wife Abducted As Bandits Invade Zamfara School Quarters
Army Busts Gunrunning Syndicate in Plateau, Two Arrested With AK-47 (Photos)