trade war | DD News

February 3, 2025 11:20 AM

Trump says Americans may feel ‘pain’ in trade war with Mexico, Canada, China

President Donald Trump said the sweeping tariffs that he has imposed on Mexico, Canada and China may cause "short term" pain for Americans as global markets reflected concerns the levies could undermine growth and reignite inflation. Trump said he would talk on Monday with the leaders of Canada and Mexico, which have announced retaliatory tariffs of their own, but downplayed expectations that they would change his mind. "I don't expect anything dramatic," Trump told reporters as he retu...

A man stands in front of a live view of the Nikkei 225 index. Photo by Stanislav Kogiku/SOPA Images/LightRocket via Getty Images/Files

February 3, 2025 9:02 AM

Asian stocks slump, dollar soars as Trump tariffs trigger trade war fear

Asian stock markets slumped on Monday and U.S. equity futures pointed sharply lower after U.S. President Donald Trump's tariffs on Canada, Mexico and China triggered fears of a broad trade war and hit to global growth. The U.S. dollar shot to a record peak against the Chinese yuan in offshore trading, and its highest against Canada's currency since 2003 and the strongest against the Mexican peso since 2022. Japan's Nikkei share average tumbled as much as 2.3% in early trading, and Australia'...

January 27, 2025 11:40 AM

US puts Colombia tariff, sanctions threat on hold after deportations deal

The U.S. and Colombia pulled back from the brink of a trade war on Sunday after the White House said the South American nation had agreed to accept military aircraft carrying deported migrants. U.S. President Donald Trump had threatened tariffs and sanctions on Colombia to punish it for earlier refusing to accept military flights carrying deportees as part of his sweeping immigration crackdown. But in a statement late on Sunday, the White House said Colombia had agreed to accept the migrants a...

June 21, 2024 2:35 PM

China says EU escalation of trade friction could trigger ‘trade war’

China's commerce ministry said on Friday the European Union has continued to escalate trade friction, which "may trigger a "trade war". "Responsibility lies entirely with the EU side," a ministry spokesperson said in a statement. China hopes the EU will meet it halfway, handle difference through dialogue and avoid escalating trade friction or allowing it to get out of control, the spokesperson said. Last week, the European Commission proposed tariffs of up to 38.1% on electric vehicle imports...