Death toll rises to 17 in South Korea as rains cause landslide and floods
Two people were confirmed dead and five missing in Gapyeong, South Korea, on Sunday, after heavy rain triggered landslides and flooding, raising the c...
The U.S. has officially entered a new trade war. President Donald Trump has slapped 25% tariffs on imports from Canada and Mexico and 10% on China, citing immigration and drug trafficking concerns. The move has immediate consequences for businesses and consumers—so what happens next?
The U.S. has taken a decisive step in reshaping its trade relationships by introducing new tariffs on key economic partners. The measures, which take effect Tuesday, include:
✅ 25% tariffs on most Canadian and Mexican imports
✅ 10% tariffs on Chinese goods
✅ 10% tariffs on Canadian energy exports, while Mexican energy imports face the full 25%
The White House has framed the tariffs as a response to illegal immigration, fentanyl trafficking, and trade deficits. However, the economic consequences are expected to be far-reaching, with businesses, industries, and global markets bracing for impact.
🔴 Rising Costs for Consumer Goods
The cost of electronics, vehicles, household products, and groceries is expected to increase as businesses adjust to higher import costs.
A Canadian-made car, for example, may see a price jump from $40,000 to $50,000 due to tariffs.
🔴 Disruptions in Supply Chains
Many U.S. industries rely on Canadian and Mexican raw materials and components, particularly in the automotive and manufacturing sectors.
Tariffs could lead to higher production costs, potential job losses, and delayed supply chains.
🔴 Retaliatory Tariffs from Trade Partners
Canada and Mexico have announced retaliatory measures, imposing 25% tariffs on U.S. goods such as beer, bourbon, lumber, and appliances.
China has condemned the move and vowed countermeasures through the World Trade Organization (WTO).
🔴 Possible Inflationary Pressures
Increased costs in imports and production could contribute to inflation, making everyday goods and services more expensive.
Businesses may cut jobs or slow investment in response to rising costs.
President Trump has defended the tariffs as an economic defense mechanism, arguing that:
"Canada has been very tough to deal with. We don’t need their oil, we don’t need their lumber. We have everything we need here."
Despite these claims, economists warn that tariffs often result in higher prices for consumers while placing pressure on businesses.
With Canada, Mexico, and China all preparing countermeasures, the potential for a prolonged trade conflict remains high.
Canada has announced 25% tariffs on $155 billion worth of U.S. goods, affecting key industries.
Mexico has signaled further economic countermeasures, targeting U.S. exports.
China is evaluating its response, with potential actions likely to affect American exports and businesses operating in China.
With the first wave of tariffs set to take effect, analysts warn of wider economic implications—including rising costs, disrupted trade flows, and potential long-term shifts in global trade relationships.
The question remains: Will these tariffs achieve their intended goals, or will they trigger broader economic consequences?
The world’s biggest dance music festival faces an unexpected setback as a fire destroys its main stage, prompting a last-minute response from organisers determined to keep the party alive in Boom, Belgium.
Iran launched 18 ballistic missiles late Sunday targeting the U.S. military’s Al-Udeid Air Base in Qatar, the largest American installation in the Middle East.
Australian researchers have pioneered a low-cost and scalable plasma-based method to produce ammonia gas directly from air, offering a green alternative to the traditional fossil fuel-dependent Haber-Bosch process.
Australian researchers have created a groundbreaking “biological AI” platform that could revolutionise drug discovery by rapidly evolving molecules within mammalian cells.
A series of earthquakes have struck Guatemala on Tuesday afternoon, leading authorities to advise residents to evacuate from buildings as a precaution against possible aftershocks.
Two people were confirmed dead and five missing in Gapyeong, South Korea, on Sunday, after heavy rain triggered landslides and flooding, raising the country’s storm-related death toll to 17.
U.S. President Donald Trump may meet Chinese leader Xi Jinping in South Korea or China this autumn, with talks expected around the late October APEC summit as both sides seek progress on ending their tariff dispute.
President Donald Trump announced on Sunday that he would intervene to assist Afghans who have been detained in the United Arab Emirates for years after fleeing their country when the Taliban seized control.
Bangladesh has signed a deal to import 700,000 tonnes of wheat annually from the United States over the next five years, aiming to ease trade tensions and secure tariff relief from the Trump administration, officials confirmed on Sunday.
Iran and the E3, Britain, France, and Germany, may hold nuclear talks next week, Tasnim reported, amid European warnings that failure to resume negotiations could trigger renewed international sanctions.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment