In response to Trump’s announcement of sweeping tariffs on imports from China, Mexico, and Canada, all three countries have prepared retaliatory measures, with Canada imposing 25% tariffs on $155bn worth of American goods, and Mexico planning to respond with tariffs and non-tariff measures. The tariffs are part of Trump’s economic vision to grow the US economy, but could lead to higher prices on a variety of products and impact industries like automotive, with economists warning of potential negative consequences on growth and inflation.
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South Africa plans to spend more on health and defense after US cuts aid
South African lawmakers plan to increase value added tax by 0.5% to boost health and defense budgets, with an additional 28.9 billion rand allocated for health spending to offset U.S. aid cuts. The move aims to support the health system's response to HIV, which has 5.5 million people on antiretroviral drugs, while also allocating 5 billion rand to strengthen military forces. The government also plans to raise VAT by another 0.5% annually to fund various...
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