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Stocks Plummet After Trump Says Tariffs On Canada, Mexico Will Start, Igniting Trade War Fears
President Donald Trump announced that tariffs on Canada and Mexico will take effect in less than a day, sending the stock market tumbling amid fears of a trade war.
Trump said on Monday afternoon, March 3, that the US will impose 25 percent rates on imports from the two neighboring nations and the United States’ primary trading partners, effectively quashing any last-minute hopes for a negotiated agreement.
“There’s no room left for Mexico or for Canada” to negotiate to prevent the tariffs from taking effect on Tuesday, March 4, Trump said at the White House, adding, “They’re all set.”
The…