In a bold move that has sent shockwaves through global markets, President Donald Trump has implemented tariffs on goods from the US’s biggest trading partners, Canada and Mexico. The tariffs, which went into effect overnight, involve a 25% levy on goods from both countries, adding to the existing 10% tax on Chinese imports that has been doubled.
The decision has been met with criticism and raised concerns of an impending global trade war. Wall Street Correspondent Jens Korte weighed in on the potential implications of these tariffs, highlighting the uncertainty and volatility they have introduced to the economic landscape.
Abigail Hall, an Associate Professor of Economics at the University of Tampa, also shared her insights on the matter, shedding light on the possible ramifications of these tariffs on the US and its trading partners.
Trump’s move is being viewed as a high-stakes gamble, one that could potentially lead to increased prices for consumers and disruptions in supply chains. As the world watches closely to see how this situation unfolds, the future of international trade relations remains uncertain.
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Video “Trump says tariffs will correct trade imbalance | DW News” was uploaded on 03/05/2025 to Youtube Channel DW News