Trump's Tariff Threats Sink Canadian Dollar, Pressure Mexican Peso 
Trump’s Tariffs on Canadian and Mexican Oil to Drive Up U.S. Gas Prices 
Global Markets Plunge as Trump Imposes Sweeping Tariffs on Canada, Mexico, and China 
Oil Prices Surge as Trump’s Tariffs Spark Supply Concerns 
Wall Street on Edge as Trump’s Tariffs Spark Fears of Inflation and Market Volatility 
Canada Retaliates with Tariffs on U.S. Imports Amid Trade War 
Canada Fights Back: Challenges U.S. Tariffs with Legal Action and Retaliatory Measures 
Scholz Warns Against Trade Barriers as EU Eyes Response to U.S. Tariffs 
Oil Prices Rise Amid U.S. Tariff Threats on Mexico and Canada 
Trump Imposes New Tariffs on Canada, Mexico, and China, Escalating Trade War 
Trump Imposes Tariffs on Canada, Mexico, and China Amid National Emergency 
Global Backlash Erupts Over Trump’s Tariffs on Mexico, Canada, and China 
South Korea’s Retail Sales Decline Amid Political Unrest and Weak Consumer Spending 
Canada Introduces Tariff Relief for Businesses Amid U.S. Trade Dispute 
Asian markets tumbled Monday, with U.S. equity futures pointing sharply lower after President Donald Trump imposed tariffs on Canada, Mexico, and China. Concerns over a trade war and its economic fallout sent the U.S. dollar surging to record highs against the Chinese yuan, Canadian dollar, and Mexican peso.
Japan’s Nikkei fell 2.3%, while Australia’s benchmark dropped more than 2%. Hong Kong markets opened later, and mainland Chinese exchanges remained closed for Lunar New Year. S&P 500 futures declined 1.7%, while Nasdaq futures slumped 2.5%.
Trump imposed a 25% tariff on Canada and Mexico and a 10% levy on China, citing illegal immigration and drug trade concerns. Canada and Mexico announced immediate retaliatory measures, while China vowed to challenge the tariffs at the World Trade Organization. The tariffs, set to take effect Tuesday, could trigger a global trade war, with analysts warning of inflationary pressures and economic slowdowns.
EY’s chief economist Greg Daco projected U.S. growth could shrink by 1.5 percentage points, pushing Canada and Mexico into recession. Barclays estimated a 2.8% earnings hit for S&P 500 companies.
The U.S. dollar climbed 0.7% to 7.2552 yuan offshore, reaching a record 7.3765 earlier. It also gained 2.3% against the Mexican peso and 1.4% versus the Canadian dollar, hitting its highest level since 2003. The euro dropped 2.3% to $1.0125, and the yen lost 0.2% to 155.53 per dollar.
Bitcoin fell 5.8% to a three-week low of $96,191.39. Meanwhile, oil prices rose, with WTI crude up 2.4% to $74.27 per barrel and Brent crude gaining 1% to $76.40.
