How will Donald Trump’s ‘Tariff War’ be heavy on the world, now what will Canada-China and Mexico do? Understand the whole thing in 7 points

Last Updated: February 02, 2025, 18:34 Istdonald Trump Tariff War Explained: Donald Trump put new tariffs on things imported from China, Canada and Mexico. This decision of Trump has increased the possibility of a new trade war broke out.

The three countries have already … Read more, after this decision of American President Donald Trump, the possibility of global trade war has increased. (AP Photo) Highlighteram imposed new tariffs on China, Canada and Mexico. Kanada and Mexico announced the counter tariff. China filed a complaint with WTO. American President Donald Trump has America’s three largest business partners partners-China, Canada, Canada And has ordered to impose new and tight tariffs on all the goods imported from Mexico. After this decision, the possibility of global trade war has increased, as the three countries have refused to bow down to US pressure and announced retaliation. So let’s know in 7 points, this whole controversy and what effect it can have on the global economy. What is Trump’s new tariff order? US President Donald Trump signed an executive order on 1 February, imposing 25% tariffs on goods imported from Canada and Mexico. 10% tariff was placed on energy resources coming from Canada. 10% tariff was imposed on imported goods from China. Why was the tariff imposed? The Trump administration claims that these tariffs have been deployed to prevent illegal immigration and drug smuggling. Trump said that Canada, Mexico and China are required to justify ‘accountable’ on these issues. Trump had earlier promised to take strict steps against illegal immigration and drug smuggling in his election campaigns. Canada’s response to Trump’s announcement, Prime Minister Justin Trudeau announced to impose a counter -tariff, calling Trump’s order unfair. Trudeau said Canada would impose 25% tariffs on US goods worth US $ 107 billion ($ 155 billion Canadian). This tariff on US products of 30 billion Canadian dollars will be applicable from Tuesday. The remaining 125 billion Canadian dollars will be charged within 21 days. President Claudia Shinbam, President of Mexico, also announced to impose a counter tariff. He said, ‘We do not want to confront, but Mexico will have to protect their business interests.’ Shinbam directed his economy minister to implement “Plan B”, which would include tariffs and other business restrictions. However, he did not clarify which American products would be banned. What China said? China called the US tariff a violation of the World Trade Organization (WTO) rules and announced a suit on it. The Chinese Commerce Ministry issued a statement on Sunday saying that “America’s move is unfair and illegal. This will cause deep damage to China-America business relations. “China will take retaliation to protect its interests.” What threat to America? American consumers will face inflation. Automobile and tech industry will have a bad effect, as many parts come from Canada and Mexico. The goods imported from China, Mexico and Canada will become expensive, which will harm American companies. How much loss to global trade? This new announcement of Trump may increase trade war between America and its allies. Uncertainty in international markets will increase, which may cause a decline in the stock market. China, Canada and Mexico can shift their supply chains to other countries away from America. The decision of the US to impose tariffs on China, Canada and Mexico has created a new trade war situation. Canada and Mexico have decided to impose counter -tariffs. China lodged a complaint with the WTO and warned to take other tough steps. This leads to instability in global markets and increasing tension in business relations. If a diplomatic solution is not found soon, then this trade war can give a big blow to the global economy. Location: New Delhi, Delhi, DELHIFIRS: February 02, 2025, 18:31 Isthomeknowledge Trump’s ‘Tariff War’ will be heavy on the world? Understand all the talk in 7 point tariffs on important

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