Trump's tariff plans raise global trade war fears as countries prepare for retaliation

Donald Trump, the president-elect, has announced plans to impose significant tariffs on goods from Canada, Mexico, and China. He aims for a 25% tariff on Canada and Mexico and a 10% tariff on China, raising concerns of a potential trade war. Foreign governments and businesses are reacting with caution, fearing retaliation. Analysts predict that countries may respond with their own tariffs, which could negatively impact global economic growth and delay investments. The European Union is particularly concerned, as it may retaliate against U.S. goods like cars and whiskey. Asian countries, including Japan and South Korea, are also preparing for possible tariffs, with some seeking exemptions based on their investments in the U.S.