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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Mexico's navy said it had activated a search-and-rescue operation in the Caribbean to locate two sailboats carrying humanitarian aid to Cuba after the vessels failed to arrive in Havana.
A powerful tropical cyclone in Western Australia has disrupted production at the country’s two biggest liquefied natural gas plants run by Chevron and Woodside, exacerbating a global supply crunch caused by the conflict in the Middle East.
U.S. President Donald Trump said on Thursday he would pause attacks on Iran's energy plants for 10 days at Tehran's request and said talks with Iran were going "very well," although an Iranian official dismissed a U.S. proposal for ending nearly four weeks of fighting as "one-sided and unfair."
Israel said it had killed Alireza Tangsiri, the Commander of Iran’s Islamic Revolutionary Guards Corps (IRGC)’s Navy, on Thursday, as confict in the Middle East continued.
A drone has flown into Estonian airspace from Russia. It happened early on Wednesday morning and slammed into a chimney at a local power station, the Baltic country's Internal Security Service told public broadcaster ERR.
Iran has rejected a U.S. proposal to end the war, insisting any ceasefire will occur only on its own terms and timeline, according to a senior political-security official speaking to state-run Press TV on Wednesday.
Marine Le Pen, leader of France’s far-right National Rally (RN), said on Wednesday that the U.S. had “clearly made a mistake” in launching strikes on Iran, arguing Washington misjudged the resilience of the Iranian regime.
NASA announced on Tuesday it has cancelled plans to deploy a space station in lunar orbit and will instead use components from the project to build a $20 billion base on the moon's surface, while also planning to send a nuclear-powered spacecraft to Mars.
Mexico's navy said it had activated a search-and-rescue operation in the Caribbean to locate two sailboats carrying humanitarian aid to Cuba after the vessels failed to arrive in Havana.
A powerful tropical cyclone in Western Australia has disrupted production at the country’s two biggest liquefied natural gas plants run by Chevron and Woodside, exacerbating a global supply crunch caused by the conflict in the Middle East.
France has rejected claims that South Africa was dropped from the guest list for this year’s G7 summit under pressure from United States, insisting the decision to invite Kenya was its own.
A U.S. federal judge raised concerns on Thursday about whether sanctions preventing Venezuela from funding the legal defense of Nicolás Maduro could violate his constitutional rights, though he did not dismiss the drug-trafficking charges against the former leader.
The UK-led Joint Expeditionary Force (JEF) met in Finland on Thursday (26 March) to discuss the Russia–Ukraine war, North Atlantic security and the coalition’s future.
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