söndag 2 februari 2025

Trump's tariffs

Trade war in North America begins – Canada and Mexico respond with their own tariffs

Tonight, both Canada and Mexico responded to Donald Trump's tariffs by imposing their own 25 percent tariffs on the US.

At a press conference, Canadian Prime Minister Justin Trudeau said that the response will be "far-reaching and include everyday goods" such as beer, wine, fruit, vegetables and clothing, Global News reports. He added that Canada did not want to end up here.

Trudeau also urges his compatriots to choose Canadian goods.

- This may mean you change your summer plans and stay here in Canada.

Mexico is also responding with punitive tariffs, writes President Claudia Sheinbaum on the X platform. Details about the design of the tariffs are not known.

The third country that Trump turned against – China – criticizes Trump's ten percent tariffs. A statement from the Department of Commerce states that China is reporting the US to the World Trade Organization and that "corresponding countermeasures" will be introduced.

Votes on tariffs
Mexican president hits back: Start in your own country

The US's new punitive tariffs on goods from Mexico will have "serious effects" on both the US and Mexican economies. This was stated by Mexican President Claudia Sheinbaum in a statement on Sunday, according to El Pais.

She also rejects Donald Trump's accusations of links between Mexican drug cartels and the government, and believes that the US itself is not doing enough to stop drug trafficking.

- If the US government and its agencies want to do something about the serious fentanyl abuse in their country, they could, for example, start by combating street sales in their big cities. But they are not doing that, says Sheinbaum.

Summers: Trump's policy is bizarre - China the big winner

Donald Trump's punitive tariffs against the US's neighboring countries and China can be seen as an economic self-harm behavior. That's what Professor Larry Summers, former Treasury Secretary under Bill Clinton, said in an interview with CNN on Sunday.

He describes Trump's policy as "bizarre" and fears it could cause allies to distance themselves from the United States.

- Bullying is not a long-term winning strategy, regardless of whether we're talking about the schoolyard or international relations, he says.

Summers also believes that one of the winners of this weekend's news is China and Xi Jinping.

- We're giving him an excuse for his own economic failures, he tells CNN.

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