Canada and Mexico Prepare for Retaliatory Measures Against Possible Trump Tariffs
Canada and Mexico are bracing for potential tariffs imposed by U.S. President Donald Trump, who has threatened to enact new duties on Canadian and Mexican exports in the coming days. According to officials in both countries, strategies to counter these tariffs are being finalized, raising concerns over a possible trade war. Trump's administration has announced a February 1 deadline for both nations to address issues he cites, including immigration from Mexico and drug-related concerns from Canada.
While Canadian Minister David McGuinty expressed optimism that a resolution could be reached by Saturday, Canada has pledged to invest approximately CAD 1.3 billion to bolster border security. Retaliatory measures could target an estimated CAD 110 billion worth of U.S. exports to Canada. In Mexico, President Claudia Sheinbaum has downplayed the likelihood of a confrontation, yet emphasized readiness to respond if necessary. Experts warn that the escalation of tariffs could disrupt global markets, as exports represent around 40% of Mexico's GDP, with a vast majority directed to the U.S.
Weekly Newsletter
News summary by melangenews