Stock Market Plummets as Trump Announces New Tariff War ...Middle East

News by : (The New Republic) -

White House Press Secretary Karoline Leavitt told reporters that tariffs of 25 percent would be implemented against Canada and Mexico, and a 10 percent tariff against China.

Leavitt told reporters that the full details of the tariffs would be released when they are implemented, but all three countries have said they would respond. Canada has pledged to retaliate with tariffs of its own in a ““forceful but reasonable” manner, according to Prime Minister Justin Trudeau.

Mexico also plans to institute its own tariffs against the United States, and China said it will “firmly defend” its interests. Regardless, Trump claims that his tariffs will force other countries to comply with his policies and raise money for the federal government, even though they’re more likely to hurt the economy as well as the average American. Beginning this weekend, Americans, whether they support Trump or not, may experience some sticker shock if they go shopping.

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