US President Donald Trump’s new 25% tariffs on imports from Mexico and Canada took effect on March 4. Additionally, tariffs on Chinese goods have been doubled to 20%. Experts warn that these measures could significantly impact the US economy and further exacerbate inflation.
U.S. President Donald Trump’s new 25% tariffs on imports from Mexico and Canada took effect on March 4. Additionally, tariffs on Chinese goods have been doubled to 20%. Experts warn that these measures could significantly impact the US economy and further exacerbate inflation.
The new tariffs could disrupt the annual $2.2 trillion trade flow between the US and its three main trading partners. Trump justified this decision by claiming that these countries had not taken sufficient steps to curb the influx of fentanyl and its precursor chemicals into the US.
A New Challenge for the North American Economy
The tariffs imposed on Mexico and Canada are expected to affect key sectors of the North American economy. Raw materials and components imported from these countries play a crucial role in automobile manufacturing, industrial equipment assembly, energy processing, and agriculture.
According to US economic data released on Monday, factory prices have reached their highest level in three years. Economists warn that the new wave of tariffs could further weaken the manufacturing sector.
Canada and Mexico Respond Strongly
Canadian Prime Minister Justin Trudeau has announced 25% retaliatory tariffs on $30 billion CAD ($20.7 billion USD) worth of US imports. These tariffs will apply to orange juice, peanut butter, wine, spirits, beer, coffee, household appliances, and motorcycles.
Mexican President Claudia Sheinbaum has also reacted strongly to Washington’s decision, stating that Mexico will announce its countermeasures on Sunday in Mexico City’s iconic Zócalo Square.
China Holds Its Ground
Beijing responded immediately by announcing additional tariffs of 10%-15% on certain US imports starting March 10, as well as imposing new export restrictions on specific American companies. Additionally, China has filed a complaint with the World Trade Organization (WTO) against the new US tariffs.
Markets Plunge
Trump’s tariff decision has triggered turmoil in global financial markets. Major US stock indexes dropped sharply, with the Nasdaq entering correction territory. European markets experienced their biggest one-day loss in six months. Automakers, construction companies, and retailers were among the hardest hit.
Some US products have already seen price increases, raising concerns that Trump’s tariffs contradict his campaign promise to lower the cost of living for Americans.
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Türkiye has proposed jointly leading next year’s U.N. climate summit, COP31, alongside Australia in an effort to resolve a long-running standoff over who will host the event, Turkish diplomatic sources have confirmed.
Uzbek President Shavkat Mirziyoyev on Sunday proposed creating a new regional co-operation body, which he called the “Community of Central Asia”, aimed at strengthening economic integration across the region’s more than 80 million people.
Israeli Prime Minister Benjamin Netanyahu has reiterated his firm opposition to the establishment of a Palestinian state, saying his position has “not changed one bit” despite growing international pressure.
President of Azerbaijan Ilham Aliyev gave a speech in Tashkent on 16 November at the 7th Consultative Meeting of Central Asian leaders, where regional heads of state gathered to discuss cooperation and Azerbaijan’s expanding role in the format.
Storm Claudia, which brought violent weather to Portugal, has resulted in the deaths of three people and left dozens injured, authorities reported on Saturday. Meanwhile, in Britain, rescue teams were organising evacuations due to heavy flooding in Wales and England.
Japan urged China on Saturday to take "appropriate measures" after Beijing issued a warning to its citizens against travelling to Japan, amid an ongoing dispute over Taiwan.
U.S. President Donald Trump purchased at least $82 million in corporate and municipal bonds between late August and early October, including new investments in sectors benefiting from his policies, according to financial disclosures made public on Saturday.
A ministerial meeting was held in the capital of Georgia, Tbilisi, for the implementation of the Agreement on Strategic Partnership in the Development and Transmission of Green Energy between Azerbaijan, Georgia, Hungary, and Romania.
U.S. Secretary of State Marco Rubio stressed the importance of securing a humanitarian ceasefire in Sudan during a call on Friday with United Arab Emirates Foreign Minister Sheikh Abdullah bin Zayed.
Türkiye has proposed jointly leading next year’s U.N. climate summit, COP31, alongside Australia in an effort to resolve a long-running standoff over who will host the event, Turkish diplomatic sources have confirmed.
Uzbek President Shavkat Mirziyoyev on Sunday proposed creating a new regional co-operation body, which he called the “Community of Central Asia”, aimed at strengthening economic integration across the region’s more than 80 million people.
Israeli Prime Minister Benjamin Netanyahu has reiterated his firm opposition to the establishment of a Palestinian state, saying his position has “not changed one bit” despite growing international pressure.
Thousands of people across Mexico took to the streets on Saturday under the rallying cry of “Generation Z,” demanding an end to rising violence and expressing outrage over the killing of Uruapan Mayor Carlos Manzo earlier this month.
Britain’s Interior Minister Shabana Mahmood has announced sweeping reforms to the UK’s asylum and immigration system, signalling a significant shift away from automatic paths to permanent residency for refugees.
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