The global market is co -with the US tariff war. Dow futures slipped below 500 points. The American market has also slipped on Friday. Asian markets also had a deep redness. Gift Nifty is also more than 150 points.
Trump imposed tariff
US President Donald Trump imposed 25% tariffs on Canada and Mexico and 10% tariffs on China. After Trump’s action, the three countries have retaliated. The tariff will be applicable from 12:01 pm on Tuesday night. The Canadian dollar has reached the lowest level since 2003 from the tariff war. Low parcel will also be charged $ 800. Earlier, there was no tariff on a lower parcel of $ 800. Energy imports from Canada will levy 10% tariffs. Oil, electricity import will also levy 10% tariffs.
Effect of trump tariff
Currency of Canada, Europe, Mexico showed pressure. The Canadian dollar has reached the lowest levels after 2023. The Euro remained at the lowest levels after November 2022. Mexico’s peso arrived at 3 years low.
Trade partners’ response
Canada also imposed 25% tariff on the US. Tariffs on goods worth $ 106 billion. Mexico also intends to apply tariffs. China also talked about putting tariffs but did not impose. China said that he would appeal to WTO against Trump’s decision.
What did Justin Trudeau say?
American beer is planned to tax food. There is also a plan to impose tax on wine and appliances, while there are plans to take strict steps on critical minerals. People have appealed to buy goods made in Canada. Appealed not to holiday in America. Justin Trudeau is the Prime Minister of Canada.
Canada responds to Trump
Ontario, Quebec will remove American products. American products will be removed from government liquor shops. Other states will also follow the steps of Ontario, Quebec.
Information said on Trump tariff
Experts say the biggest shock to Canada’s economy is possible. The biggest shock to the economy after Kovid-19 is possible. The Canadian economy may be vulnerable to recession. Canada’s GDP may be shocked by 2-4%. Inflation in Canada can be more than 2%. Unemployment in Canada is also expected to increase. Canadian dollars are expected to fall further.
Mexico responds to Trump
Mexican President Sheenbam made a big statement on “X”. Use of medicine in the US, distribution is a major problem. You did not mention this problem. Mexico says that troubles will be away from conversation, not by imposing tariffs. At the same time, experts say that the economy of Mexico can go into the recession. There is a possibility of recession if the tariff is more than 3 quarters. Mexico is expected to have a record decline in peso.
Bloomberg on trump tariff
Bloomberg says that the average tariff rate in the US will increase from 3% to 10.7%. There is a possibility of decline in supply in the domestic market. America’s GDP may get a shock of 1.2%. Core inflation in the US may also increase 0.7%.
America’s dependence on Canada
A large part of the US depends on Canada’s electricity and gas. The Pacific Northwest of the US is dependent on the power and gas of Canada, when the US’s Northeast depends on Canada’s electricity and gas. Oil industry bid will increase costs with 10% tariff.
Asian market
Meanwhile, mixed business is being seen in Asian markets today. Gift Nifty is showing a decline of 194.50 points. At the same time, Nikkei falls around 2.48 per cent to around 38,612.96. At the same time, the Straight Times is showing a weakness of 0.23 percent. Taiwan’s market is trading at a level of 3.90 per cent to 22,648.46. While Hangseng is seen by 1.26 per cent to 19,970.53. At the same time, Kospi is trading with a decline of 2.94 percent.
Stock Market Live Updates: Gift Nifty is giving signs, Indian market can be started