In a significant move, US President Donald Trump has issued an executive order imposing additional tariffs ranging from 10 percent to 25 percent on imports from Canada, Mexico, and the Chinese mainland. This decision marks the beginning of a new wave of trade tensions between the United States and its three largest trading partners.
The introduction of these tariffs is expected to have far-reaching effects on the global economy. Experts predict that rising US trade protectionism could lead to increased decoupling between major economies, disrupting established supply chains and potentially leading to higher costs for consumers and businesses alike.
As the world navigates this fragmented trade landscape, the long-term impact of these policies remains uncertain. Businesses and investors are closely monitoring the situation, seeking insights into how these changes will affect market dynamics and economic growth on a global scale.
Reference(s):
cgtn.com
