The Philippines and Canada have concluded negotiations for a key military agreement, as Manila expands defense partnerships amid tensions with Beijing over the disputed South China Sea.
President Donald Trump’s 25% tariffs on goods from Mexico and Canada took effect first thing Tuesday, while Canada responded with plans to
Beijing retaliated with tariffs on many U.S. farm exports, and Justin Trudeau said Canada would slap tariffs on $100 billion of American goods over the next 21 days.
Beijing retaliated with tariffs of up to 15% on a wide array of U.S. farm exports. It also expanded the number of U.S. companies subject to export controls and other restrictions by about two dozen. In an address to Congress Tuesday night,
The rise of protectionist barriers and ongoing disputes among the world's leading economies are shaking up the flow of goods and market stability.
Confrontation - and a tariff battle - is expected to continue between Beijing and Ottawa when former central banker Mark Carney takes the helm as Canada's next prime minister, according to analysts. Carney - who won the ruling Liberal Party leadership race on Sunday with 86 per cent of the vote and will succeed Justin Trudeau as prime minister - will also continue a battle with Washington.
China will continue to grow bilateral relations with Canada on the basis of mutual respect and equality, the foreign ministry said after Mark Carney won the race to lead Canada's ruling party and become the next prime minister.
Initially, his administration imposed a blanket 25 percent tariff on trade with Canada, excluding certain energy products, and 25 percent on Mexico. However, some of these were later suspended for one month. Trump also placed an additional 10 percent tariff on trade with China.
Beijing, which set steep duties on canola, peas and pork, wants Canada and Mexico to resist U.S. pressure to raise tariffs on Chinese goods.
Prime Minister Justin Trudeau of Canada warned that the Trump administration’s tariffs were leading to a trade war. Mexico’s leader vowed to impose countermeasures on Sunday.