Market volatility expected as Trump raises tariffs on China, takes action against Mexico and Canada
US president Donald Trump appears to be moving ahead with tariffs on Canadian and Mexican goods, and additional tariffs on China. China has since placed retaliatory tariffs on many US products including soybeans, chicken and dairy products, of up to 15%.
As of the stroke of midnight on Tuesday, March 4, (US time) Donald Trump is moving ahead with a further 10% tariffs on Chinese goods, on top of 10% tariffs which started on February 4 via a presidential executive order announced on the White House website. In addition, up to 25% tariffs on goods from Mexico and Canada are also set to go ahead, with the exact details still emerging.
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