A decrease in the export value of goods from Canada and Mexico due to American duties can reach 50-80 billion dollars, which will lead to an annual reduction in these countries. He writes about it Ria Novosti Reference to experts.
With 25% of import tasks from Mexico and Canada, and new tariffs for Chinese goods, the United States plans to take measures against countries with high tariffs for American goods. Canada and China have already announced their responses, and the EU is also preparing measures in response to President Trump’s threats.
According to Associate Professor Reu GV Plekhanova Anastasia Zakozova, if tariffs are canceled this summer, a decrease in GDP may only be 1%. In 2022, Canada GDP increased by 1.5%, Mexico -1%.
Expert Reu, GV Plekhanova, due to the mutual dependence of economies, the impact of tasks will be multifaceted, he added. Deliveries within the scope of contracts made at fixed prices will not change and the task burden will fall into American business. At the same time, Canadian and Mexican suppliers may experience a loss of up to 20% of income, which will lead to a decrease in reducing salary and personnel. Companies will try to re -guide trade in other markets and offer discounts.
Alexander Daniltsev, Director of Trade Policy, believes that Mexico will suffer the most, while Canada and the US GDP will slow down and an increase in inflation. He said that damage caused by tariffs would be less for the United States and more for Mexico, but that absolute losses for the United States could be compared to Canadian and Mexican losses due to their economies.
Previously Canada Sent A lawsuit against the US on the WTO.
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Source: Gazeta
Emma Matthew is a political analyst for “Social Bites”. With a keen understanding of the inner workings of government and a passion for politics, she provides insightful and informative coverage of the latest political developments.