The tariffs and subsequent retaliatory measures could spark a major trade war that would cause significant economic damage not only to all three countries but also to the United States. Trump’s new executive order includes a clause that allows the president to extend tariffs if a country imposes new tariffs on the United States.
The new policy represents an end to years of virtually duty-free trade between the three North American countries and an expansion of the cold trade war between China and the United States that has escalated in recent years.
What will happen to the global and Russian economies after Trump's new tariffs
Photo - © RIA Novosti
"The introduction of new tariffs on imports from nepal mobile database Canada, Mexico and China by US President Donald Trump has a significant impact on the global economy. These measures may lead to an increase in prices for imported goods in the US, including food and industrial products, which in turn can cause inflationary pressure and a slowdown in economic growth not only in the US, but around the world, since everyone depends on the dollar," comments Igor Rastorguev, leading analyst at AMarkets.
US partners such as Canada and Mexico have already announced retaliatory tariffs on American goods, which could reduce global trade and increase overall tensions in international economic relations, he adds.
For Russia, the consequences of these duties could be twofold, Rastorguev believes. On the one hand, the reduction in trade between the US and its traditional partners could open up new opportunities for Russian exporters, especially in those sectors where Russian products could replace US goods.
On the other hand, a general slowdown in the global economy due to trade wars could negatively impact demand for Russian export goods such as oil and gas, leading to a decrease in the country's income.
The introduction of new tariffs in the US has become a trigger for a reversal in the crypto market. After a long upward trend, investors are faced with a new wave of uncertainty caused by trade restrictions and a possible slowdown in the global economy.
The crypto market is heavily dependent on rumors and emotions, and they are now conveniently tracked on the Polymarket prediction platform. Over the past couple of days, the probability of Bitcoin growing to $110,000 has decreased almost twofold, from 60% to 34%, and at the same time, the probability of Bitcoin falling to $90,000 has increased to 72%. The chances of seeing Bitcoin at $85,000 have increased to 38%. The most popular bet on Ethereum, which has collapsed more than Bitcoin and is now trading at a six-month low, is now seen as $2,000, explains Crypto Simmit CEO Alexey Zyuzin.