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US TARIFFS against China, Canada and Mexico come into effect, Beijing and Ottawa "threaten" with...

2025-03-04 10:56:12Kosova&Bota SHKRUAR NGA REDAKSIA VOX

US TARIFFS against China, Canada and Mexico come into effect, Beijing and Ottawa

The escalating trade "wars" between the United States and its largest economic partners are deepening starting today, as US tariffs on Canada, Mexico and China have sparked swift retaliation from Beijing and Ottawa.

The steep US tariffs on Canadian and Mexican goods came into effect after a deadline to avoid President Donald Trump's tariffs passed without reaching a deal with major trading partners Canada and Mexico in February, accusing them of failing to stop illegal immigration and drug trafficking.

US stock markets fell on Monday after Trump told reporters there was "no room" for North American neighbors to avoid taxes.

The duties will affect over $918 billion in US imports from both countries.

Trump also approved an order on Monday to increase a previously imposed 10 percent tariff on China to 20 percent.

On the other hand, China vowed on Tuesday to fight to the "bitter end" if the United States instigates a trade war, declaring that it will impose new tariffs on a range of US agricultural imports starting next week, in retaliation for Washington's tax hikes.

"An additional tariff of 15 percent will be imposed on chicken, wheat, corn and cotton," Beijing's finance ministry said, adding that "additional tariffs of 10 percent will be imposed on soybeans, pork, beef, aquatic products, fruits, vegetables and dairy products."

“If the United States… continues to wage a tariff war, a trade war or any other kind of war, the Chinese side will fight them to the bitter end,” said foreign ministry spokesman Lin Jian.

The Tax Foundation estimates that before accounting for foreign retaliation, tariffs on Canada, Mexico and China this time would reduce U.S. economic output by 0.1 percent.

And sweeping tariffs, particularly in Canada and Mexico, are set to disrupt supply chains for key sectors like automobiles and building materials, risking rising costs for households.


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