Canada and China retaliate after Trump's tariffs take effect, causing markets to drop

China and Canada hit back swiftly after Trump's sweeping trade tariffs took effect at midnight U.S. time Tuesday, escalating fears of a global trade war. International markets, meanwhile, continued to slide amid growing uncertainty.

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Mar 4, 2025 - 01:38
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Canada and China retaliate after Trump's tariffs take effect, causing markets to drop
President Trump speaks in the Roosevelt Room of the White House on March 3, 2025 after announcing that Taiwan Semiconductor Manufacturing Company plans to invest $100 billion in new manufacturing facilities in the United States.

China and Canada hit back swiftly after Trump's sweeping trade tariffs took effect at midnight U.S. time Tuesday, escalating fears of a global trade war. International markets, meanwhile, continued to slide amid growing uncertainty.

(Image credit: Andrew Harnik)

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