Announcement leads to sharp sell-off on Wall Street as Trump also vows tariffs on farm products starting in April

The US will press ahead with steep tariffs on Canada and Mexico from Tuesday, Donald Trump has said, setting the stage for a trade war with his country’s two largest economic partners.

Hours before his administration was due to hit America’s closest neighbors with sweeping import duties, the US president claimed there was “no room left” for a deal to avoid their imposition. The announcement led to a sharp sell-off on Wall Street.

All Mexican exports to the US are set to face a levy of 25% under the plans. Most Canadian exports will face a 25% tariff, with energy products facing a 10% duty.

. . .

The action is set to prompt swift retaliation. “We’re ready,” said the Canadian foreign minister, Mélanie Joly.

MBFC
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  • xmunkEnglish
    771·
    13 hours ago

    Hey America, get fucked. Your bald eagles come to Squamish for mating and we’re offering them all Canadian citizenship.

    Also, please note that individual Americans who oppose Trump are always appreciated…

    But yea, my household has dramatically severed ties with US companies and switched to consuming goods produced domestically or in Europe.

    • qprimed@lemmy.mlEnglish
      43·
      13 hours ago

      Hey America, get fucked.

      USA here, and oh boy… are we working on it!

      fare thee well, Canada. there are a ton of us over here seriously rooting for you.