Trade tensions are escalating fast. President Trump’s new tariffs—25% on imports from Mexico and Canada, and a doubling of duties on Chinese goods to 20%—are already triggering retaliation. Canada and Mexico are preparing their own tariffs, and China is hitting back with new duties on U.S. agricultural products and restrictions on American firms. With North America’s deeply integrated economy at stake and global markets reacting sharply, business leaders warn the move could lead to job losses, higher consumer prices, and even recession. The consequences are just beginning to unfold.
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