Day: February 3, 2025
Donald Trump says US tariffs on imports from the EU “will definitely happen” following similar moves targeting Canada, Mexico and China, the BBC reports.
He does not rule out imposing tariffs on UK goods and says the country is “out of line”, but the situation “can be worked out” with PM Sir Keir Starmer who has “been very nice.”
Trump says he will speak to Mexico and Canada’s leaders on Monday. US tariffs of 25% on the two countries’ goods, and a 10% tariff on Chinese goods, are due to kick in from Tuesday.
Canada and Mexico are set to impose retaliatory tariffs, while China will implement “corresponding countermeasures” and plans to file a lawsuit with the World Trade Organization.
Asian markets, the first ones to open since Trump’s tariff announcements on the weekend, have tumbled significantly in an indication of investor uncertainty.