Trump’s new tariffs on Canada, Mexico, and China took effect Tuesday, sparking a global trade war as Canada, Mexico, and China retaliated with their own duties. The move has rattled markets, raised consumer prices, and fueled recession fears.
Canada imposed 25% tariffs on C$30 billion ($20.7 billion) worth of U.S. goods, targeting orange juice, peanut butter, wine, spirits, coffee, appliances, and motorcycles.
Mexico announced countermeasures, with President Claudia Sheinbaum set to reveal details on Sunday.
China imposed 10%-15% tariffs on select U.S. imports starting March 10 and placed 25 U.S. firms under export restrictions.
Canadian Prime Minister Justin Trudeau condemned the tariffs as "a very dumb thing to do," accusing Trump of attempting to cripple Canada’s economy.
"They’ve chosen to launch a trade war that will, first and foremost, harm American families," Trudeau said.
U.S. stocks plummeted, with the Nasdaq falling into correction territory.
The Canadian dollar and Mexican peso weakened against the U.S. dollar.
The U.S. Federal Reserve Bank of Atlanta revised its GDP forecast downward, now projecting a 2.8% economic contraction in Q1 2025.
The tariffs are already leading to higher consumer prices:
Retailers like Target and Best Buy warned of price increases on groceries, electronics, and imported goods.
Smartphones, laptops, and gaming consoles will be hit with a 20% tariff on Chinese imports.
U.S. farmers face renewed economic pain as China targets U.S. agricultural exports.
Trump justified the tariffs as a response to fentanyl trafficking from Canada, Mexico, and China.
"This country has stuck with them through thick and thin," Trump said, adding that Europe should contribute more.
However, experts warn the tariffs could drive the U.S. into recession, further escalating tensions with global trading partners.
China kept its 2025 economic growth target at roughly 5% while committing to higher government spending to counter deflationary risks and the impact of escalating U.S. trade tariffs, according to a government report released Tuesday.
A U.S. judge on Tuesday suggested he may dismiss the New York Times from Justin Baldoni’s $400 million defamation lawsuit, where the actor claims the newspaper colluded with Blake Lively to damage his reputation.
Trump’s new tariffs on Canada, Mexico, and China took effect Tuesday, sparking a global trade war as Canada, Mexico, and China retaliated with their own duties. The move has rattled markets, raised consumer prices, and fueled recession fears.
The U.S. and Ukraine are working to finalize a minerals deal that fell through after Ukrainian President Volodymyr Zelenskyy’s abrupt Oval Office exit last week, according to four sources familiar with the discussions.
Russia has offered to mediate between the United States and Iran over Tehran’s nuclear program, a source briefed on discussions told Reuters on Tuesday. The Kremlin emphasized that it would do everything possible to seek a peaceful resolution.
China kept its 2025 economic growth target at roughly 5% while committing to higher government spending to counter deflationary risks and the impact of escalating U.S. trade tariffs, according to a government report released Tuesday.
A U.S. judge on Tuesday suggested he may dismiss the New York Times from Justin Baldoni’s $400 million defamation lawsuit, where the actor claims the newspaper colluded with Blake Lively to damage his reputation.
Trump’s new tariffs on Canada, Mexico, and China took effect Tuesday, sparking a global trade war as Canada, Mexico, and China retaliated with their own duties. The move has rattled markets, raised consumer prices, and fueled recession fears.
The U.S. and Ukraine are working to finalize a minerals deal that fell through after Ukrainian President Volodymyr Zelenskyy’s abrupt Oval Office exit last week, according to four sources familiar with the discussions.
Russia has offered to mediate between the United States and Iran over Tehran’s nuclear program, a source briefed on discussions told Reuters on Tuesday. The Kremlin emphasized that it would do everything possible to seek a peaceful resolution.
A centuries old tradition of cheese-throwing has brought excitement to the town of Novara di Sicilia as its residents both young and old trooped out en masse to participate in the game.
Norway’s government has affirmed that it will continue to supply fuel for U.S. Navy vessels, dismissing recent calls from a private marine fuel supplier to halt deliveries amid tensions linked to U.S.-Ukrainian relations.
Watch AnewZ Live Coverage of the Trump-Zelenskyy meeting at the Oval Office at https://anewz.tv/tv-live
EU High Representative for Foreign Affairs and Security Policy/Vice-President of the European Commission, Kaja Kallas, will chair the 20th EU-Central Asia Ministerial meeting hosted this year by Turkmenistan, in Ashgabat, on 4 March.
Ukrainian President Volodymyr Zelenskyy reaffirmed his respect for the United States and its people in an interview with Fox News, following a tense meeting with U.S. President Donald Trump at the White House.
China kept its 2025 economic growth target at roughly 5% while committing to higher government spending to counter deflationary risks and the impact of escalating U.S. trade tariffs, according to a government report released Tuesday.
The U.S. and Ukraine are working to finalize a minerals deal that fell through after Ukrainian President Volodymyr Zelenskyy’s abrupt Oval Office exit last week, according to four sources familiar with the discussions.
Russia has offered to mediate between the United States and Iran over Tehran’s nuclear program, a source briefed on discussions told Reuters on Tuesday. The Kremlin emphasized that it would do everything possible to seek a peaceful resolution.
The U.S. State Department on Tuesday implemented the designation of Yemen’s Iran-aligned Houthi movement as a foreign terrorist organization (FTO), following President Donald Trump’s directive earlier this year.
Arab leaders approved Egypt’s $53 billion reconstruction plan for Gaza on Tuesday, rejecting U.S. President Donald Trump’s proposal for resettling Palestinians and instead advocating a Palestinian-led governance structure.
China kept its 2025 economic growth target at roughly 5% while committing to higher government spending to counter deflationary risks and the impact of escalating U.S. trade tariffs, according to a government report released Tuesday.
A U.S. judge on Tuesday suggested he may dismiss the New York Times from Justin Baldoni’s $400 million defamation lawsuit, where the actor claims the newspaper colluded with Blake Lively to damage his reputation.
Trump’s new tariffs on Canada, Mexico, and China took effect Tuesday, sparking a global trade war as Canada, Mexico, and China retaliated with their own duties. The move has rattled markets, raised consumer prices, and fueled recession fears.
The U.S. and Ukraine are working to finalize a minerals deal that fell through after Ukrainian President Volodymyr Zelenskyy’s abrupt Oval Office exit last week, according to four sources familiar with the discussions.
Russia has offered to mediate between the United States and Iran over Tehran’s nuclear program, a source briefed on discussions told Reuters on Tuesday. The Kremlin emphasized that it would do everything possible to seek a peaceful resolution.
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