US tariffs on Mexico and Canada spark global trade tensions
The European Commission, through its spokesperson, Olof Gill, has expressed deep regret over the United States' decision to impose tariffs on goods imported from Mexico and Canada. The move threatens to disrupt global trade, the EC warned. "We call on the United States to reconsider its approach," the statement reads.
Gill added that tariffs on Canada and Mexico will harm global trade and key economic partners, "creating unnecessary uncertainty at a time when international cooperation is more crucial than ever."
The spokesperson also emphasized that Mexico and Canada are not only close allies of the EU but also important economic partners, as evidenced by the economic and trade agreements between the EU and these countries. This refers to the CETA agreement between the Union and Canada and the global agreement signed with Mexico.
The EC also warned that the USA's tariffs threaten the deeply integrated supply chains, investment flows, and economic stability across the Atlantic and announced that the Union strongly opposes protectionist measures that undermine the principles of open and fair trade.
We call on the United States to reconsider its approach and work towards a cooperative, rules-based solution that benefits all parties, said the EC spokesperson in a statement.
The 25% tariffs announced by Trump on all goods from Mexico and Canada took effect at midnight Eastern Time between Monday and Tuesday.
The US also implemented a 10% tariff increase on goods from China. This is one of the largest one-time tax increases in history.
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