Trumps Trade War Begins! Slams 25 percent tariff on Canada, Mexico and China, citing a threat from illegal immigration and drugs.
In retaliation, Canadian Prime Minister Justin Trudeau announced a 25% tariff on $155 billion worth of goods from the United States.
77% of Canada’s exports go to the U.S. and 84% of Mexico’s exports go to the U.S.
According to reports, China, Mexico and Canada accounted for more than 40% of imports into the US last year.
China said it will file a complaint with the World Trade Organization and “take corresponding countermeasures” over President Donald Trump’s decision to impose new tariffs against it.
The Trump administration said tariffs are aimed at curbing the flow of drugs and undocumented immigrants into the US, but they potentially risk substantial price increases for American consumers across an array of common goods from avocados to sneakers to cars.
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