This time, Trump’s tirade against Mexico, Canada and China went a step further, accusing them of being the source of chemicals used by drug traffickers. In the first instance, Mexico and Canada would be hit with a 25% tariff on all imports, Trump said. David Henig, the director of the UK trade policy project at the European Centre for International Political Economy, said there was a more sophisticated game to be played. Starmer could negotiate closer ties for goods trade with the EU while continuing to talk to the US about financial regulations, where London has some leverage. ING has calculated that if Trump’s new tariffs are fully passed on, they could cost American consumers up to $2,400 each annually.

Source: International New York Times November 26, 2024 16:29 UTC