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President Donald Trump talks with Canada's Prime Minister Justin Trudeau during a North Atlantic Treaty Organization Plenary Session at the NATO summit in Watford, Britain, in December 2019.

REUTERS/Kevin Lamarque

Mexico, Canada get tariff reprieve

On Thursday, US President Donald Trump announced a one-month tariff reprieve on all Mexican and Canadian goods governed by the USMCA, as well as potash,until reciprocal tariffs are imposed worldwide on April 2.Canada supplies 80% of US potash, a critical component of fertilizer. The decrees follow Wednesday’s one-month tariff reprieve for America’s Big 3 automakers: Stellantis, Ford, and General Motors.

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A ''Buy Canadian Instead'' sign is displayed in a liquor store after the top five US liquor brands were removed from sale as part of a response to President Donald Trump's 25% tariffs on Canadian goods, in Vancouver, British Columbia, Canada.

REUTERS/Chris Helgren

Hard Numbers: US whiskey takes a Canadian shot, Toronto home sales plunge, US charges Chinese “hack-for-hire” ring, Ukrainian refugees get a reprieve in Canada, What does a dinner with Trump cost?

1: What’s worse than a tariff? Well, if you’re the maker of Jack Daniels it’s a decision by several Canadian provinces to remove your product from shelves as part of the deepening US-Canada trade war. Still, the Great White North accounts for just 1% of the famous Tennessee sour mash’s sales. Mexico is another story entirely: It throws back seven times as much.

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Paige Fusco

Graphic Truth: Who’s most vulnerable in the North American trade war?

This week, Donald Trump fired the opening shots in a new North American trade war, slapping 25% tariffs on Mexico and Canada, America’s top two trade partners.

Both countries responded in kind, but by the numbers at least, the US has significantly more leverage in this showdown. That’s because the economies of Canada and Mexico are vastly more dependent on exports to the US than the US is on exports in the other direction.

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Staff remove bottles of US alcohol from the shelves of a Liquor Control Board of Ontario store as part of retaliatory moves against tariffs announced by President Donald Trump, in Toronto, Canada, on March 4, 2025.

REUTERS/Arlyn McAdorey

Canada, Mexico, and China retaliate against Trump’s tariffs

It’s official: The United States is now waging a full-blown trade war against three of its largest trading partners. On Tuesday, Washington imposed tariffs of 10% on energy and 25% on all goods imported from Canada and Mexico and doubled its existing tariffs on Chinese imports from 10 to 20%. All three countries responded with harsh words and retaliatory measures.

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Stacked containers in American and Chinese national colors symbolize a trade war between the US and China.

IMAGO/Christian Ohde via Reuters Connect

Beijing and Brussels react to Trump tariffs

China has retaliated against US President Donald Trump’s 10% tariffs with a range of strategic countermeasures, to take effect Feb. 10. These include import taxes on US coal and liquefied natural gas of 10%, and a 15% charge on crude oil. But since the US accounted for only 1.7% of China’s total crude oil imports in 2023, the impact on its economy should be minimal. Similarly, while Beijing is slapping tariffs on US agricultural machinery, pick-up trucks, and large cars, China buys most of its automobiles domestically or from Japan, so consumers likely won’t suffer much.
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Canada's Prime Minister Justin Trudeau is joined by Finance Minister Dominic LeBlanc, Minister of Foreign Affairs Melanie Joly, and Minister of Public Safety David McGuinty, as he responds to President Donald Trump's orders to impose 25% tariffs on Canadian imports, in Ottawa, Ontario, on Feb. 1, 2025.

REUTERS/Patrick Doyle

Trump ignites trade war. Will there be a legal response?

On Saturday, US President Donald Trump signed an executive order applying 25% tariffs on all Canadian and Mexican imports, excluding Canadian energy, which will be tariffed at 10%. The order, which takes effect on Tuesday, also imposes a 10% tariff on all Chinese imports. Trump threatened to escalate tariffs further if any of the countries retaliated, which Mexico and Canada have already done.

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- YouTube

DeepSeek puts US-China relations on edge

Ian Bremmer shares his insights on global politics this week on World In :60.

How is China's AI app DeepSeek disrupting the AI industry?

It certainly seems to be making people concerned that the Chinese are a lot closer to the Americans and the Trump administration is not sleeping on this. They clearly feel that China is technologically very capable, very advanced. Frankly, different than Biden felt when he first became president, though he got up to speed on that pretty quickly. And I think that's going to lead to a much tougher competition between the United States and China. Those that think that a deal is coming, that Trump is going to engage with China because he wants to find a way to not have to put tariffs on, I don't think that's going to happen because you're going to have so much more efforts to contain the Chinese in all sorts of areas of advanced technology broadly speaking.

They are way ahead in data. The Americans are ahead in compute, and they're both going to lean into the opportunities that they have. And the Americans are going to use their firepower from a government perspective with other countries around the world as well. That's what I think.

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President Donald Trump makes a special address remotely during the 55th annual World Economic Forum meeting in Davos, Switzerland, on Jan. 23, 2025.

REUTERS/Yves Herman

The Big Tar-iffs: Will he or won’t he start a trade war?


The big Trump tar-“iff” now has a when: Feb. 1.

That’s when the busy new US president has promised to slap 25% tariffs on both Canada and Mexico. In his virtual address to the folks attending the World Economic Forum in Davos, Switzerland, on Thursday, President Donald Trump again singled out Canada for harsh treatment. “We have a tremendous deficit with Canada,” he said, reiterating his usual inaccurate tariff mantra. Trump claims the trade deficit is between US$200 and US$250 billion a year when it is significantly less than half of that, mainly due to energy exports.

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