Brief by Shorts91 Newsdesk / 03:52am on 01 Feb 2025,Saturday International
US President Donald Trump will impose tariffs of 25% on Mexico and Canada, and 10% on China starting Saturday, the White House announced. Trump cited fentanyl distribution, undocumented migration, and trade deficits as reasons. Canadian oil will face a 10% tariff from February 18. Trump also warned of future tariffs on the EU, accusing it of unfair trade practices. Canada and Mexico have vowed retaliation, while China urged a "win-win" trade solution. Economists warn the move could increase US inflation and fuel a trade war. Trump admitted short-term disruptions but defended the decision as fulfilling campaign promises.
