In a swift response to President Donald Trump’s executive order imposing steep tariffs on imports from Canada, Mexico, and China, both Canada and Mexico have announced retaliatory measures. The move comes just hours after Trump’s order, which includes a 25% tariff on goods from Mexico and Canada, and a 10% tariff on goods from China.
Canadian Prime Minister Justin Trudeau and Mexican President Claudia Sheinbaum both declared their countries’ intentions to impose retaliatory tariffs on American goods. Things might just get a bit too tense between the nations involved.
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Trudeau announced that Canada would implement 25% tariffs on $155 billion worth of U.S. goods, with immediate tariffs on $30 billion worth of goods starting Tuesday, February 4, 2025. The remaining tariffs will be phased in over the next 21 days to allow Canadian companies to find alternatives.
North America in the middle of a tense moment
Mexico’s President Claudia Sheinbaum also reacted swiftly, instructing her economy minister to implement tariff and non-tariff measures to defend Mexico’s interests. The tariffs are seen as a direct response to Trump’s actions, which have been described as risking a trade war and increased prices for American consumers.
The tariffs imposed by Canada and Mexico will affect a wide range of American goods, including everyday items such as beer, wine, bourbon, fruits, vegetables, consumer appliances, lumber, and plastics. Trudeau emphasized the long-standing alliance between the U.S. and Canada, urging Americans to consider the real consequences of the trade conflict, including job losses and higher costs for food and petrol.
As the situation unfolds, the global economy faces potential turmoil, with economists warning that the trade war could slow economic growth and worsen inflation. The coming weeks will be crucial in determining the impact of these tariffs on international trade and relations between the U.S., Canada, and Mexico.
