Canada has imposed retaliatory 25 per cent tariffs on US goods, leading to Prime Minister Justin Trudeau calling it the start of a “trade war”, while Donald Trump justifies the tariffs using the domestic fentanyl crisis. Trudeau accused Trump of trying to harm Canada’s economy and potential annexation, resulting in a back-and-forth of tariffs between the two countries and Mexico, with Trump warning of further reciprocal tariffs.
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Trump, EU’s von der Leyen to meet to clinch trade deal
European Commission President Ursula von der Leyen is meeting with US President Donald Trump to negotiate a trade deal that could impose a 15% baseline tariff on EU goods, potentially alleviating uncertainty for EU companies, while Trump considers imposing a 30% tariff on August 1. The deal may include exemptions for certain industries and commitments for increased US exports, with both sides optimistic about reaching an agreement. Want More Context? 🔎
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