The United States government has imposed fresh tariffs on more than 90 countries following the expiration of former President Donald Trump’s deadline for new trade deals.
Among the countries affected is Canada, where the tariff rate has surged from 25 percent to 35 percent. Canadian Prime Minister, Mark Carney, has expressed disappointment over the development. However, most Canadian goods remain exempt from the increase due to a pre-existing trade agreement.
Mexico, on the other hand, has been granted a 90-day extension, effectively delaying the implementation of higher tariffs and giving room for continued negotiations.
It will be recalled that Trump initially announced the sweeping tariff plan back in April, a move that sent shockwaves through the global economy. The implementation was later postponed to allow several nations, including the United Kingdom, to negotiate bilateral trade agreements.
With the deadline now elapsed and few deals finalized, the new tariffs are expected to raise tensions in global trade and spark responses from affected nations.
