News Summary

Author: Malek Fouda
Published on: 07/03/2025 | 00:00:00

AI Summary:
US President Donald Trump postponed 25% tariffs on imports from Canada and Mexico for a month. The White House insists its tariffs aim to combat the smuggling of fentanyl and curb illegal migration into the United States. Trump’s tariff plans have also caused the stock market to plummet, alarming US consumers. Canada fights back Canada’s initial retaliatory tariffs against the US will remain in place despite Trump’s postponement of some tariffs. A second wave of Canadian tariffs on US products worth a further $125 billion Canadian (€81 billion) were suspended after Trump signed the executive order to pause some duties. China responds to Trump’s tariffs Chinese Foreign Minister Wang Yi said Beijing will continue to retaliate to the United States’ “arbitrary tariffs” Yi says China’s effort to help the US contain its fentanyl crisis have been met with punitive tariffs. The two countries have been reengaging in tit-for-tat re-taliatory tariffs since US President Donald Trump's return to office in January. China has imposed flat tariffs of 20% of Polish President Andrzej Duda said he hoped an agreement would be reached between the US and Ukraine. Dududa also called for NATO members to spend at least 3% of their GDP on defence. "I am still hopeful that an agreement will be reached," said NATO Secretary General Mark Rutte. Duda also submitted a written proposal for NATO members to increase defence spending from 2% to 3%. Poland has increased its defence and security spending to almost 5% in the last few years.

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