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1. Title: President Trump's Tariff Deadline Looms Large 2. Overview: - Less than 24 hours before President Donald Trump imposes sweeping tariffs on Canada, Mexico, and China. - The global economy braces for impact as Trump considers tariffs on Canada, Mexico, and China over immigration and drug concerns. 3. Potential Economic Impact: - Tariffs are seen as a bargaining chip to speed up trade deal renegotiations between the US, Mexico, and Canada. - Blanket US tariffs and proportional retaliation from Canada and Mexico could cost Canada and Mexico 3.6% and 2% of real GDP respectively, while the US would suffer a 0.3% loss. 4. Industry Impact: - Canada and Mexico supplied more than 70% of US crude oil imports, with almost 60% from Canada alone. - Canadian officials say Ottawa would provide pandemic-level financial support to workers and businesses if US tariffs hit. - Mexican President Claudia Sheinbaum is confident her country can avoid the levy. 5. Trade Negotiations: - Analysts predict incremental tariff increases on Chinese goods with consumer goods facing lower hikes. - Ultimately, the goal is to achieve some type of "grand bargain" between the US, Mexico, and Canada before President Trump's term ends.?
1. Title: President Trump's Tariff Deadline Looms Large 2. Overview: - Less than 24 hours before President Donald Trump imposes sweeping tariffs on Canada, Mexico, and China. - The global economy braces for impact as Trump considers tariffs on Canada, Mexico, and China over immigration and drug concerns. 3. Potential Economic Impact: - Tariffs are seen as a bargaining chip to speed up trade deal renegotiations between the US, Mexico, and Canada. - Blanket US tariffs and proportional retaliation from Canada and Mexico could cost Canada and Mexico 3.6% and 2% of real GDP respectively, while the US would suffer a 0.3% loss. 4. Industry Impact: - Canada and Mexico supplied more than 70% of US crude oil imports, with almost 60% from Canada alone. - Canadian officials say Ottawa would provide pandemic-level financial support to workers and businesses if US tariffs hit. - Mexican President Claudia Sheinbaum is confident her country can avoid the levy. 5. Trade Negotiations: - Analysts predict incremental tariff increases on Chinese goods with consumer goods facing lower hikes. - Ultimately, the goal is to achieve some type of "grand bargain" between the US, Mexico, and Canada before President Trump's term ends.?
President Trump's Tariff Deadline Looms Large:
Less than 24 hours before President Donald Trump imposes sweeping tariffs on Canada, Mexico, and China. The global economy braces for impact as Trump considers tariffs on Canada, Mexico, and China over immigration and drug concerns.
Tariffs are seen as a bargaining chip to speed up trade deal renegotiations between the US, Mexico, and Canada. Blanket US tariffs and proportional retaliation from Canada and Mexico could cost Canada and Mexico 3.6% and 2% of real GDP respectively, while the US would suffer a 0.3% loss.
Canada and Mexico Prepare for Economic Fallout:
Canada and Mexico supplied more than 70% of US crude oil imports, with almost 60% from Canada alone. Canadian officials say Ottawa would provide pandemic-level financial support to workers and businesses if US tariffs hit. Mexican President Claudia Sheinbaum is confident her country can avoid the levy.
The United States, Mexico, and Canada Eye a Trade Deal:
Analysts predict incremental tariff increases on Chinese goods with consumer goods facing lower hikes. Ultimately, the goal is to achieve some type of "grand bargain" between the US, Mexico, and Canada before President Trump's term ends.
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