Canada hits back with tariffs as Trump moves forward with 25% tariff on two of its largest trading partners-Canada and Mexico.
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US-EU: Trade War Looms as Trump threatens 25% Tariff on Imports from EU
The European Union (EU), America’s third-largest trading partner, retaliates after Trump unveils a 25% tariff on EU imports, a move that could drive inflation and escalate global trade tensions.
Trump’s 25% tariffs on Colombia- here are the products that will get more expensive
Less than 1% (0.5% ) of total U.S. imports are from Colombia. But, 28% of Colombia’s imports come from the U.S. The breakdown underscores Colombia’s role as a key supplier of niche products to the U.S. market.
The Impact of The Rising Dollar
The US dollar has been on the rise every day setting high records. With the upward pressure on dollar, stronger dollar could tighten financial conditions across the growth. Further the rising dollar could be offsetting the benefit of low cost oil. Over the past six months, the trade-weighted dollar has risen 25% and faster than anytime the last 40 years. US dollar is a global unit of account in debt contracts and that could be a cause of slow down in the rest of the world. Not only that, if the dollar continues to increase, inflation and US economic could weaken.