Donald Trump tariffs highlights: US Commerce Secretary hopes to reach ‘middle ground’ with Canada, Mexico

Donald Trump Live Updates: Multiple Canadian provinces, including Ontario and Quebec, banned the sale of US alcohol on Tuesday, part of a broad national retaliation against import tariffs imposed by US President Donald Trump.

"This is an enormous hit to American producers," Ontario Premier Doug Ford said in announcing the measures imposed by Canada's largest province.

Stores run by the publicly controlled Liquor Control Board of Ontario (LCBO) sell nearly one billion Canadian dollars ($688 million) worth of US alcohol products each year, Ford said. (AFP)

Donald Trump Live Updates: US Commerce Secretary Howard Lutnick told Fox Business on Tuesday that President Donald Trump will reach a middle ground with Canada and Mexico on tariffs and an announcement to that effect was expected on Wednesday.

Donald Trump Live Updates: Federal Reserve Bank of New York President John Williams said he anticipates tariffs will contribute to inflation, but emphasized there is a lot of uncertainty about how the economy will respond to President Donald Trump’s levies.

“Based on what we know today, given all the uncertainties around that, I do factor in some effects of tariffs now on inflation, on prices, because I think we will see some of those effects later this year,” Williams said Tuesday during the Bloomberg Invest conference in New York. (Bloomberg)

Donald Trump Live Updates: Canadian Prime Minister Justin Trudeau said that U.S. President Donald Trump is appeasing Russia while launching a trade war against Canada.

“Today, the United States launched a trade war against Canada, their closest partner and ally, their closest friend. At the same, they are talking about working positively with Russia, appeasing Vladimir Putin, a lying, murderous dictator. Make that make sense,” a visibly angry Trudeau said.

Donald Trump Live Updates: Prime Minister Justin Trudeau on Tuesday alleged that the aim of US President Donald Trump's tariff war is to destroy Canada's economy so he can annex the country.

Trudeau also addressed Trump's allegations on fentanyl trafficking and said, “The excuse that he’s giving for these tariffs today of fentanyl is completely bogus, completely unjustified, completely false. What he wants is to see a total collapse of the Canadian economy because that’ll make it easier to annex us.”

"Let us not fool ourselves about what he seems to be wanting. We will never be the 51st state,” Trudeau added.

Donald Trump Live Updates: “Please explain to Governor Trudeau, of Canada, that when he puts on a Retaliatory Tariff on the U.S., our Reciprocal Tariff will immediately increase by a like amount!” Trump wrote on Truth Social.

Donald Trump Live Updates: Prime Minister Justin Trudeau told U.S. President Donald Trump on Tuesday that his new tariffs on Canadian imports were "a very dumb thing to do" and said Ottawa was striking back immediately.

"There is absolutely no justification or need whatsoever for these tariffs today," Trudeau told reporters, adding that Canada would challenge the U.S. measures at the World Trade Organization and through the U.S.-Mexico-Canada trade agreement.

"It's not in my habit to agree with the Wall Street Journal, but Donald, they point out that even though you're a very smart guy, this is a very dumb thing to do," Trudeau said. (Reuters)

Prime Minister Justin Trudeau told US President Donald Trump on Tuesday that his new tariffs on Canadian imports were "a very dumb thing to do" and said Ottawa was striking back immediately.

Beijing said Tuesday it had filed a complaint with the World Trade Organization against the United States over President Donald Trump's tariff increases on Chinese goods, AFP reported.

The statement comes a day after Trump ordered additional tariffs against Chinese goods, increasing previously imposed 10 per cent levies to 20 per cent.

Canada is imposing 25% tariffs on C$30 billion worth of U.S. imports with immediate effect, Prime Minister Justin Trudeau told reporters on Tuesday.

Trudeau made the announcement just hours after U.S. President Donald Trump slapped 25% tariffs on imports from Mexico and Canada.

Imposition of high tariffs on China, Mexico, and Canada by the US is likely to help Indian exporters in increasing their shipments to the American market, according to experts.

Sectors that can be benefited include agriculture, engineering, machine tools, garments, textiles, chemicals, and leather, they added.

British finance minister Rachel Reeves warned the UK would be affected by slowing global trade even if tariffs were not directly applied to it, when asked about U.S. President Donald Trump's imposition of tariffs on Mexico and Canada.

tocks are falling again on Wall Street as companies and investors react to President Donald Trump’s decision to impose tariffs on the U.S.’s biggest trading partners. The S&P 500 dropped 0.7% Tuesday morning, the Nasdaq fell 0.6% and the Dow slid 423 points, or 1%.

Mexico President Claudia Sheinbaum on Tuesday said that the country will respond to 25% tariffs imposed by the United States with its own retaliatory tariffs on US goods. AFP reported.

Sheinbaum said she will announce the products Mexico will target on Sunday in a public event in Mexico City’s central plaza.

Canadian Prime Minister Justin Trudeau said Ottawa would respond with 25% tariffs on C$30 billion ($20.7 billion) worth of US imports and another C$125 billion if Trump's tariffs were still in place in 21 days.

He said previously that Canada would target American beer, wine, bourbon, home appliances and Florida orange juice.

Some of the major European companies are preparing their 'plan Bs' to adapt to US trade tariffs that became a blunt reality on Tuesday, Reuters reportedDonald Trump imposed hefty 25% tariffs on imports from Mexico and Canada, along with a doubling of duties on Chinese goods to 20%.

Trump could also impose more tariffs on the European Union in the coming month.

US President Donald Trump’s long-threatened trade tariffs against Canada and Mexico went into effect Tuesday. The tariff announcement has put global markets on edge and set up costly retaliations by the United States’ North American allies.