Brief by Shorts91 Newsdesk / 05:12pm on 03 Feb 2025,Monday International
Donald Trump defended his new 25% tariffs on Canada and Mexico, claiming opponents are “controlled by China.” The policy, which also includes a 10% tariff on Chinese goods, aims to tackle illegal immigration and drug trafficking. The Wall Street Journal called it “the dumbest trade war,” warning of economic harm. Canada, Mexico, and China vowed retaliatory tariffs, raising fears of a global trade war. Trump insisted tariffs are “FANTASTIC” and necessary to stop the U.S. from “losing trillions.” The Tax Foundation estimated a 0.8% GDP decline and 184,000 job losses due to the tariffs.
