Analyst says US tariffs may lead to trade wars, rising costs
US tariffs may lead to trade wars and rising costs across the globe, an analyst said on Sunday (February 2).
US President Donald Trump signed an order on Saturday (February 1) imposing hefty new tariffs of 25% on goods from Mexico and Canada and 10% on imports from China, potentially disrupting more than $2.1 trillion worth of annual trade.
The trade tensions have already escalated with Canada and Mexico retaliating to fight back with their own counter tariffs, sparking a potentially damaging trade war between the key economic partners.
REUTERS VIDEO
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