Trump Imposes Tariffs on Canada, Mexico: Us President Vows to Double China Duties
US President Donald Trump has confirmed that tariffs on Canada and Mexico are set to come into effect on March 4, as part of his plan to reshape the country's trade policy using one of his preferred economic tools: tariffs. The new deadline for their imposition is set for March 4, Trump confirmed Thursday. China has already seen the implementation of duties on Chinese imports in early February, and China retaliated. Trump has said he will impose an additional 10% tariff on Chinese imports in March.
- This trade escalation could lead to a global commodity price shock, as it raises uncertainty about future supply chains and production costs for companies around the world.
- How will the ongoing trade tensions between the US and its major trading partners impact the global economy's ability to recover from the COVID-19 pandemic?