Bessent defends Trump tariffs amid looming trade war with Canada and Mexico
U.S. Treasury Secretary Scott Bessent says he is not worried about inflation stemming from a trade war with Canada and Mexico. Speaking at the Economic Club of New York on Thursday, Bessent appeared to double down on Trump’s warning that the enactment of new tariffs may cause disruptions.
Trump triggers trade war, price hikes with tariffs on Canada, China and Mexico
The tariff actions, which could upend nearly $2.2 trillion in two-way annual U.S. trade, went live hours after Trump declared that all three countries had failed to do enough to stem the flow of the deadly fentanyl opioid.
If tariffs evolve from a negotiating tactic to a new normal, economic and diplomatic costs to all of North America will grow.
"Tariffs are about making America rich again and making America great again," Trump said in his address to Congress.
1don MSN
President Trump vowed to expand his trade war, less than a day after imposing 25% tariffs on goods from Canada and Mexico.
Stocks are dropping in reaction to the escalating trade war. Canadian Prime Minister Trudeau announced retaliatory tariffs ...
Follow along for live updates on stocks, bonds and other markets, including the Dow Jones Industrial Average, S&P 500 and Nasdaq Composite.
Canada will continue to engage with senior Trump administration officials about the tariffs the United States plans to impose ...
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