Prices ‘highly likely’ to rise almost immediately, retailers say, after 25% duty hits exports from Mexico and CanadaTrump’s Congress speech – latest updatesAmericans have been warned to brace for higher prices within days of Donald Trump pulling the trigger on Monday, imposing US tariffs on goods from Canada and Mexico and hiking tariffs on China.Global stock markets came under pressure again on Tuesday, with leading indices falling sharply – and the benchmark S&P 500 losing all its post-election gains – as Canada, Mexico and China vowed to retaliate, and investors balked at the prospect of an acrimonious trade war. Continue reading...
US consumers are expected to face higher prices due to tariffs imposed by the Trump administration on goods from Mexico, Canada, and China. Retailers like Target and Best Buy anticipate price increases, and the stock market has dropped as a result. International responses include Canada and Mexico imposing retaliatory tariffs, while China plans to increase tariffs on US agricultural products.
