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2 weeks ago

Stock markets tumble as Trump’s aggressive tariffs spark trade wars against Canada and Mexico: Live

Justin Trudeau pledges he will ‘not back down in standing up for Canadians’

Katie Hawkinson,Joe Sommerlad
Monday 03 February 2025 14:59 GMT
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Justin Trudeau tells Canadians to forgo Florida orange juice and Kentucky bourbon after Trump's aggressive tariff moves

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U.S. stock markets were down Monday morning after President Donald Trump enacted sweeping tariffs against the country’s two largest trading partners, Canada and Mexico.

The S&P 500, Nasdaq and Dow Jones Industrial all were down more than one percent upon opening and expected to fall throughout the day.

Keeping with his promise, Trump signed off on 25 percent tariffs for Canadian and Mexican goods on Saturday and ordered an additional 10 percent tariff on Chinese goods.

Canada’s outgoing prime minister Justin Trudeau responded on Sunday by calling for retaliatory tariffs against the U.S., beginning on Tuesday.

Trump also renewed his calls for Canada to become America’s 51st state on Sunday, saying that the U.S. pays billions to “subsidize” Canada and argued that “without this massive subsidy, Canada ceases to exist as a viable Country.”

The president has meanwhile declared he will be “cutting off all future funding to South Africa” until the country investigates what he describes as the mass “confiscation” of land from its citizens.

The American appeared to be referring to a bill signed into law by Cyril Ramaphosa in January that allows land seizures without compensation in certain circumstances.

2 weeks ago

Israel's Benjamin Netanyahu travels to Washington for Trump

Israeli Prime Minister Benjamin Netanyahu has traveled to Washington, D.C. ahead of his meeting with President Donald Trump on Tuesday.

The meeting will mark Trump’s first since taking the White House last month, which Netanyahu called “a testimony to the strength of our personal friendship.”

“That friendship and that cooperation has already yielded important results for Israel and the Middle East, including the historic Abraham Accords that President Trump led and which brought four historic peace treaties between Israel and its Arab neighbors,” Netanyahu said.

Katie Hawkinson2 February 2025 15:30
2 weeks ago

Trump defends tariffs in Sunday morning rant

President Donald Trump defended his executive orders levying tariffs against China, Canada and Mexico in a Sunday morning Truth Social post.

“The ‘Tariff Lobby,’ headed by the Globalist, and always wrong, Wall Street Journal, is working hard to justify Countries like Canada, Mexico, China, and too many others to name, continue the decades long RIPOFF OF AMERICA, both with regard to TRADE, CRIME, AND POISONOUS DRUGS that are allowed to so freely flow into AMERICA,” Trump wrote.

This comes after both Mexican President Claudia Sheinbaum and Canadian Prime Minister Justin Trudeau vowed to retaliate with similar tariffs on U.S. goods overnight.

Katie Hawkinson2 February 2025 14:54
2 weeks ago

Trump tariffs risk ‘really damaging impact’ on global economy – Yvette Cooper

Donald Trump risks having a “really damaging impact” on the global economy as he pursues tariffs against the US’s nearest neighbours, a senior Cabinet minister has suggested.

The US president has introduced a 25% levy on goods coming from Mexico and Canada, and a 10% trade tax on Chinese goods, which will come into effect on Tuesday.

The penalties have sparked fears of a new era of trade wars across the globe.

Keep reading:

Trump tariffs risk ‘really damaging impact’ on global economy – Yvette Cooper

The US president’s tariffs have sparked fears of a new era of trade wars across the globe.

David Lynch2 February 2025 14:45

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