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State of economywide tariffs on Canada unclear as Trump’s global trade war escalates

  • US President Donald Trump is set to announce new tariffs affecting global trading partners on April 2, impacting cost and trade dynamics immediately after the announcement.
  • Mr Trump's tariff plans aim to equalize US and foreign tariffs while generating uncertainty among businesses and investors prior to the announcement.
  • In response to Trump's tariffs, trading partners, including Canada and Mexico, have vowed to retaliate, raising concerns over potential price increases and economic impacts.
  • Economic analysts warn that the proposed tariffs could significantly increase household costs in the US and disrupt global trade, with predicted negative effects across various industries.
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Business Examiner broke the news in on Tuesday, April 1, 2025.
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