Trump’s Tariff Threats Spark Global Responses

President Trump’s recent announcement of potential tariffs has drawn sharp reactions globally, particularly in sectors like international transport and trade. Canada’s Prime Minister Justin Trudeau expressed readiness to impose counter-tariffs if Trump enforces a 25% tariff on Canadian imports starting February 1. Trudeau emphasized Canada’s critical role as a trade partner and stressed cooperation to avoid a trade war. Meanwhile, Ontario Premier Doug Ford labeled Trump’s move as an “economic war” and vowed to defend Canada’s economy using all available tools.

Mexico also faces potential 25% tariffs, which Trump attributes to immigration and drug concerns. Mexican President Claudia Sheinbaum urged calm, advocating for respectful dialogue to preserve the United States-Mexico-Canada Agreement (USMCA). Talks between Mexico’s Foreign Minister and U.S. Secretary of State are underway, signaling a diplomatic effort to prevent escalation.
Trump’s tariff threats extend to China, the EU, and Russia. He proposed a 10% tariff on Chinese imports over fentanyl concerns, prompting China to call for global cooperation instead of protectionism. The EU, accused of unfair trade practices, is preparing to defend its interests while pursuing negotiations. Russia faces potential tariffs unless it ends the Ukraine war, with Trump suggesting sanctions as a last resort to pressure Moscow into peace talks.

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source: freightwaves.com