Trump's proposed tariffs raise concerns of economic harm and trade war, say partners

economictimes.indiatimes.com

President-elect Donald Trump's proposed tariffs of 25% on imports from Mexico and Canada, and 10% on Chinese goods, have raised concerns among U.S. trading partners. Officials warn these tariffs could lead to economic harm, inflation, and a potential trade war. The tariffs, aimed at curbing drug and migrant flows, threaten to disrupt key industries, particularly auto and agriculture. Mexico and Canada are vital suppliers, and their economies could be significantly affected, as well as U.S. consumers facing higher prices. The proposed tariffs may violate the U.S.-Mexico-Canada Agreement, which promotes duty-free trade. Experts suggest this could lead to early renegotiations of the agreement, as well as increased inflation in the U.S. economy.


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