Instant Reaction: Trump Tariffs Hit Mexico, Canada and China
Bloomberg Technology
Bloomberg
4.5 • 49 Ratings
🗓️ 3 February 2025
⏱️ 12 minutes
🧾️ Download transcript
Summary
US President Donald Trump ramped up his tariff threats to the European Union while saying he would speak with the leaders of Canada and Mexico, as stock markets sank following a hectic weekend that saw prospects for a trade war turn into reality.
In remarks to reporters on Sunday night, Trump said he would hold separate calls on Monday morning with Canadian Prime Minister Justin Trudeau, as well as with the Mexican leadership, after announcing 25% tariffs on the US’s neighbors and top trading partners. The levies are set to take effect on Tuesday, barring a last-minute deal.
Bloomberg Daybreak hosts Nathan Hager and Karen Moskow bring you instant reaction to the weekend's developments on global trade.
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| 1:02.4 | We are seeing a sharp sell-off in stocks around the world, |
| 1:05.3 | with President Trump set to follow through on his threat of tariffs against America's closest trading partners. |
| 1:08.1 | On Saturday, the president announced 25% duties on products from Canada and Mexico |
| 1:12.6 | and 10% on China, starting just after midnight tonight. Trump admits American consumers might take a hit. |
| 1:20.5 | We may have short term, a little pain, and people understand that, but long term, the United |
| 1:27.0 | States has been ripped off by virtually every country in the world. |
| 1:31.2 | We have deficits with almost every country, not every country, but almost. |
| 1:35.5 | And Republican lawmakers are signaling they support the president's efforts. |
| 1:39.3 | Senator Lindsey Graham had this reaction on Fox News Sunday. |
| 1:42.7 | If you want tariffs to go away Mexico and China, |
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