World leaders and business insiders have issued a new warning to President Donald Trump about his tariff plans.
The news comes after America slapped Mexico and Canada with 25% tariffs on all products entering the US.
The news comes into effect starting today as China has decided to retaliate against the matter and its import duties added by Trump on American farm imports.
Trump’s threats to impose tariffs might seem like fun and games to many, but it’s really a devastating matter for the economy as the news saw US shares plunge to a new low.
Canadian energy products face a 10% import duty while China’s imports were doubled to reach 20%.
Canada similarly warned that such incidents will put thousands of people at risk of losing their jobs. After all, the average American is going to pay more for groceries, gas, and cars, and that means losing out on jobs.
Also, the latest tariffs will lose the great friendship and alliance that both these nations share as they’re known for being successful trade partners for years. It will similarly violate the trade agreement that was negotiated by Trump himself in his final term.