Trade Wars Escalate: Trump's Tariffs Shake Global Markets

The U.S., under President Trump, implemented new tariffs affecting Mexico, Canada, and China, launching fresh trade conflicts. Canada and China retaliated with their tariffs. The global repercussions could threaten economic stability and relationships, with potential recessions looming due to disrupted trade avenues and increased costs.

New U.S. tariffs led by President Trump have sparked international tension, with a 25% duty on imports from Mexico and Canada and increased tariffs on Chinese goods. These measures, meant to curb fentanyl flow, have opened significant trade conflicts.

Canada and China have responded with tariffs of their own. Canadian Prime Minister Justin Trudeau announced 25% duties on U.S. imports, while China imposed tariffs on U.S. agricultural products, aiming directly at key sectors.

With potential recessions on the horizon, experts warn of significant economic disruptions. The U.S. Chamber of Commerce highlighted the adverse effects on consumer costs and supply chains, calling for policy reassessment amid fluctuating international relations.

(With inputs from agencies.)