Canada and Mexico hit back at Trump tariffs, China vows countermeasures

Quick Summary:

Canada and Mexico vowed to hit back at US tariffs with tit-for-tat measures, after President Donald Trump followed through on his threats of general levies of 25% and began a trade war that’s set to reshape global supply chains.

Canadian Prime Minister Justin Trudeau said the country will impose 25% tariffs against C$155 billion ($106 billion) of US goods, while Mexican President Claudia Sheinbaum pledged retaliatory tariffs.

The Mexican economy could enter a “severe recession” if Trump’s tariffs remain in place for more than a quarter, according to Gabriela Siller, director of economic analysis at Grupo Financiero Base.“If the tariffs last several months, the Mexican peso depreciation could reach record highs.

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Article Details

Author / Journalist: Josh Wingrove, Skylar Woodhouse & Jennifer A. Dlouhy

Category: BusinessStartups

Markets: PhilippinesAfghanistanCanadaChinaMexico

Topics: Countries President Mexico Measures Tariffs Jennifer Consumers Trade Canada Trump’s Trump

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-02-02 @ 10:11:33 (13 hours ago)

News Timezone: GMT +8:00

News Source URL: businessmirror.com.ph

Language: English

Article Length: 1288 words

Reading Time: 8 minutes read

Sentences: 45 lines

Sentence Length: 29 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Mirror

News ID: 25720455

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Main Topics: BusinessStartups

Official Website: businessmirror.com.ph

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News Last Updated: 10 hours ago

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