President Trump imposes tariffs on Canada, Mexico, and China, risking trade wars and economic fallout.

President Trump imposed 25% tariffs on imports from Canada and Mexico and doubled existing tariffs to 20% on China. This affects over $2.2 trillion in trade, impacting sectors like agriculture, electronics, and automotive. Retaliatory tariffs from these countries could raise consumer prices and disrupt supply chains, potentially reducing US economic output by 0.1%. The tariffs aim to tackle drug trafficking and reduce the trade deficit but may lead to trade wars and economic downturns.

6 weeks ago
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