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.
A bus operated by Kern Transit overturned on Monday morning after hitting railway tracks alongside Sierra Highway in Lancaster, California. Approximat...
Scientists have sequenced the full genome of a man buried in pharaonic Egypt over 4,500 years ago, revealing that about 20% of his ancestry came from ...
A federal judge has halted President Donald Trump’s controversial asylum ban at the US-Mexico border, ruling that the move oversteps his executive p...
Vietnam is set to confirm the purchase of 50 Boeing planes worth $8 billion, alongside agreements to import $2.9 billion in US agricultural products, ...
Conservative Romanian MEP Gheorghe Piperea, who submitted the motion, believes the vote is likely to fail but says it sends a powerful symbolic messag...
A bus operated by Kern Transit overturned on Monday morning after hitting railway tracks alongside Sierra Highway in Lancaster, California. Approximately 20 people, including an eight-year-old boy, were reported injured in the accident, according to emergency services.
Scientists have sequenced the full genome of a man buried in pharaonic Egypt over 4,500 years ago, revealing that about 20% of his ancestry came from Mesopotamia, in a rare discovery linking the two early civilisations.
A federal judge has halted President Donald Trump’s controversial asylum ban at the US-Mexico border, ruling that the move oversteps his executive powers. The decision marks a major legal setback for Trump’s immigration policies and upholds protections for migrants seeking refuge.
Vietnam is set to confirm the purchase of 50 Boeing planes worth $8 billion, alongside agreements to import $2.9 billion in US agricultural products, as part of a wider trade deal. The announcement follows high-level talks between US and Vietnamese officials, signalling strengthened economic ties be
The U.S. economy faces a 40% risk of recession in the second half of 2025, JP Morgan analysts said on Wednesday, citing rising tariffs and stagflation concerns.
A magnitude 5.5 earthquake struck off Japan’s Tokara Islands on Wednesday, with no tsunami warning issued but residents advised to remain vigilant.
China has ramped up efforts to protect communities impacted by flood control measures, introducing stronger compensation policies and direct aid from the central government.
The European Commission is set to propose allowing carbon credits from other countries to count towards the EU’s 2040 climate target, according to a leaked internal document.
Severe rain in Venezuela has caused rivers to overflow and triggered landslides, sweeping away homes and collapsing a highway bridge, with five states affected and no casualties reported so far.
A tragic ferry accident off the coast of Bali has left four dead and dozens missing, with rough seas complicating rescue efforts.
The Pentagon says U.S. strikes on Iranian nuclear sites have degraded Tehran’s programme by as much as two years, following attacks last month that used heavy bunker-buster bombs.
A CIA review has identified procedural flaws in a 2016 assessment that Russia sought to help Donald Trump win the U.S. presidency, but it did not challenge the core conclusion that President Vladimir Putin directed the influence campaign.
Scientists have sequenced the full genome of a man buried in pharaonic Egypt over 4,500 years ago, revealing that about 20% of his ancestry came from Mesopotamia, in a rare discovery linking the two early civilisations.
A federal judge has halted President Donald Trump’s controversial asylum ban at the US-Mexico border, ruling that the move oversteps his executive powers. The decision marks a major legal setback for Trump’s immigration policies and upholds protections for migrants seeking refuge.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment