Home » World » Trump’s tariff bomb… Review of Canada-Mexico retaliatory tariffs|Dong-A Ilbo

Trump’s tariff bomb… Review of Canada-Mexico retaliatory tariffs|Dong-A Ilbo

[트럼프發 무역전쟁]

NYT “China is like it was during Trump’s first term.”
“Possibility of fighting a currency war”

U.S. President-elect Donald Trump is speaking at the ‘America First’ policy institute event held at the Mar-a-Lago resort in Palm Beach, Florida on the 14th (local time). 2024.11.15. Canada and Mexico, which had been warned of a 25% tariff bomb by U.S. President-elect Donald Trump, are considering responding with retaliatory tariffs against the United States. There are concerns that uncertainty in the global economy will increase due to the tariff war that will be triggered by the second Trump administration.

On the 26th (local time), Canadian Deputy Prime Minister and Minister of Finance Chrystia Freeland mentioned that Canada responded with retaliatory tariffs when the United States imposed tariffs on Canadian steel and aluminum products in 2020 during Trump’s first term, saying, “We “The response was successful,” he said.

Mexican President Claudia Sheinbaum, who took office last month, also implied on the same day that she would respond with retaliatory tariffs, saying, “If we respond to one tariff, another tariff will follow.”

The New York Times raised concerns about the possibility of a “currency war” between the two countries, saying that China, which President-elect Trump announced would impose an additional 10% tariff, would respond to the United States by devaluing the Yuan exchange rate. When the first Trump administration imposed high tariffs on China, China artificially lowered the value of the yuan to increase the export competitiveness of Chinese products.

Reporter Yunjin Kim kyj@donga.com

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