
The News
US President Donald Trump’s order to impose tariffs on China, Canada, and Mexico sparked immediate reprisals and heightened fears of global economic upheaval.
Trump on Saturday announced 25% duties on imports from Canada and Mexico (Canadian energy is an exception, at 10%), while Chinese imports face 10% tariffs.
Ottawa and Mexico City vowed to retaliate, likely looking to exert economic and political pressure by targeting US exports from Republican states or with influential lobbies in Washington, analysts said.
Beijing, meanwhile, pledged unspecified “countermeasures,” leaving the door ajar for possible talks to avoid further damaging China’s beleaguered economy.
Domestic markets — which have so far “really been on Trump’s side” — are primed for turmoil, one investor said: “The market could challenge him for the first time.”