WASHINGTON, D.C. — With less than 24 hours before President Donald Trump's deadline to impose sweeping tariffs on the three biggest US trading partners — Canada, Mexico and China — the global economy is bracing for impact.
WASHINGTON, D.C. — With less than 24 hours before President Donald Trump 's deadline to impose sweeping tariffs on the three biggest US trading partners — Canada , Mexico and China — the global economy is bracing for impact.Shortly after taking office this month, Trump said he planned to introduce 25 percent tariffs on neighbors Canada and Mexico on February 1 unless they cracked down on illegal migrants crossing the US border and the flow of deadly fentanyl.
Blanket US tariffs and Ottawa's response in kind could cause Canada to fall into a recession this year, Tony Stillo of Oxford Economics told Agence France-Presse, adding that the United States also risks a shallow downturn.Mexico could face a similar situation, Tim Hunter of Oxford Economics added.It remains unclear if there could be exceptions, with Trump saying he expected to decide Thursday whether to include crude oil imports in tariffs on Canada and Mexico.
Awaits Trump Tariff Deadline On Canada Mexico And China
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