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RSPN - President Trump Announces Tariffs On Canada, Mexico And China, And The World Holds Its Breath
Invesco S&P 500 Equal Weight Industrials ETF
2025-02-03 10:55:00 ET
Summary
Late on February 1, President Trump signed three executive orders, announcing new tariffs on Canada, Mexico, and China.
The tariffs include 25% on imports from Canada and Mexico, and 10% on imports from China. Energy products from Canada, crucial for US crude oil imports, are also affected, but "only" by a 10% tariff.
Almost half of everything the US imports will be affected by higher tariffs, potentially disrupting supply chains and impacting the US, Canadian, and Mexican economies significantly.
If Mexico, Canada and China push through with the announced retaliation, the global economy would see an unprecedented escalation of trade tensions.