Canada, Mexico and China slam Trump's tariffs
www.nbcnews.com
U.S. allies Canada and Mexico said they would implement tariffs on the U.S., a move that signals further economic upheaval among the close trading partners.

Summary

Trump signed an executive order imposing 25% tariffs on Canadian and Mexican imports—excluding Canadian energy at 10%—plus additional duties on Chinese products.

In response, Prime Minister Justin Trudeau announced a 25% duty on $155 billion in U.S. goods, beginning with $30 billion in tariffs Tuesday.

Mexican President Claudia Sheinbaum indicated reciprocal tariffs, rejecting claims that Mexico tolerates criminal groups trafficking fentanyl and insisting on respect for sovereignty.

Experts warn these tit-for-tat measures could drive up costs, disrupt supply chains, and mirror the previous U.S.-China trade war, possibly harming security.

  • GrammarPolice@lemmy.worldEnglish
    2·
    2 days ago

    Explain how demand elasticity affects both countries please. I expect Trump uses these tariffs as a scare tactic for countries who depend greatly on exports to America, but i don’t know how elasticity of demand plays in.