Beijing has warned Washington that there will be no “winners” in a “trade or tariff war” and has planned to ease tariffs at the World Trade Organization (WTO). Mexico has “plans A, B, and C,” while Canada, according to the prime minister, is ready to counter.
Transmits to the UNN with reference to the VRT.
On February 1, the United States will impose 25 percent import duties on products from Mexico and Canada. We are talking about import duties of 25% on goods from Mexico and Canada and 10% on products from China.
China has announced that it will challenge the imposition of US tariffs on Chinese goods at the World Trade Organization (WTO). The Chinese Ministry of Commerce stated that the US tariffs are a clear violation of WTO rules.
Also, China warned the United States that there will be no “winners” in a “trade or tariff war.
An interesting detail: according to Trump's interpretation, his goal, among other things, is to stop the smuggling of the drug fentanyl into the United States and the influx of illegal migrants.
Beijing responded:
Fentanyl is America's problem
China has “carried out comprehensive cooperation with the United States in the fight against drugs and achieved excellent results.
Canada's response
Canadian Prime Minister Justin Trudeau said that his country is ready to respondif Trump continues to impose tariffs.
“We are ready to give a targeted, decisive, but reasonable and immediate response. This is not what we want, but if he continues, we will act too,” he said in a statement at a press conference.
In his speech, Trudeau warned that the import duties announced by Canada would cause losses to the United States. He also urged Canadians to buy Canadian goods and spend their vacations in their country.
Mexico announces retaliatory measures
Mexican President Claudia Sheinbaum said today that Mexico had been in dialogue with the Trump team before he returned to the White House. She emphasized that Mexico has “plans A, B, and C” in case the US imposes higher import duties.
“It is very important that the Mexican people know that we will always defend the dignity of our people. We will always defend our sovereignty and seek a dialogue between equals, without subordination,” Sheinbaum emphasized.
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Meanwhile, there are concerns among economists that import duties and countermeasures could trigger a trade war that could harm the global economy. They fear that in this case, inflation in the respective countries will also rise again.