Trump to hit Canada, Mexico, China with tariffs, raising price fears

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Trump to hit Canada, Mexico, China with tariffs, raising price fears
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Washington, United States — US President Donald Trump is set to unveil fresh tariffs Saturday on major trading partners Canada, Mexico, and China,

threatening upheaval across supply chains from energy to autos and raising inflation concerns.

But imposing sweeping tariffs on the three biggest US trading partners carries risks for Trump, who swept to victory in November’s election on the back of public dissatisfaction over costs of living. “Rising trade policy uncertainty will heighten financial market volatility and strain the private sector, despite the administration’s pro-business rhetoric,” he said.

Tariffs would also hit the auto industry hard, with US light vehicle imports from Canada and Mexico in 2024 representing 22 percent of all vehicles sold in the country, said S&P Global Mobility. Both Canada and Mexico have said they are prepared to respond if Trump acts on tariffs, raising the specter of an escalating conflict.Canadian Prime Minister Justin Trudeau said Friday that Ottawa is ready with “a purposeful, forceful, but reasonable, immediate response.”Mexican President Claudia Sheinbaum said her government would await any tariff announcement “with a cool head.”

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