
-
Witkoff and Araghchi: the men leading US-Iran nuclear talks
-
Stocks zoom higher as Trump delays painful tariffs
-
China urges US to meet 'halfway' as markets rocket on Trump tariff pause
-
Vatican releases image of Charles, Camilla meeting pope
-
Waratahs' McKellar rules out becoming next Wallabies coach
-
Taiwan's TSMC says first quarter revenue up 42 percent
-
Rybakina leads Kazakhstan to BJK Cup victory over Australia
-
Vietnam says it will start trade talks with United States
-
Expo 2025 in Japan: five things to know
-
Japan's World Expo touts unity, and algae, in turbulent times
-
Trump's tariff pause gives market relief, but China trade war intensifies
-
Papua New Guinea lifts ban on forest carbon credits
-
AI surge to double data centre electricity demand by 2030: IEA
-
Scheffler, McIlroy seek fast start in hunt for history at Masters
-
Samsung under pressure as US tariffs rattle South Korean economy
-
Munster wary of 'chaotic' Bordeaux-Begles in Champions Cup quarter-final
-
Ranieri eyeing Champions League for Roma before derby swansong
-
Verstappen out to silence McLaren in the battle of Bahrain
-
Asian stocks crack higher as Trump delays painful tariffs
-
Cannes to unveil film selection under pressure over industry abuse
-
Messi scores twice in Miami's frantic comeback over LAFC
-
Swimmers get medal boost with new events added for 2028 Olympics
-
Companies keen to start deep-sea mining off Norway
-
US House votes to limit judges' injunction power
-
Pilgrims in Italy flock to tomb of first millennial saint
-
China consumer prices slump for second straight month: data
-
Tearful Doncic scores 45 on return to Dallas as Lakers clinch playoff spot
-
Hamas leadership operating behind veil of secrecy
-
Trump stuns with tariff backtrack but hikes China rate to 125%
-
Messi scores twice in Miami's three goal comeback over LAFC
-
Amazon satellite launch scrubbed due to weather
-
Art of the deal? How Trump backed down on tariffs
-
Aston Villa boss Emery remains bullish despite defeat in Paris
-
Barca still improving: Flick warns rivals after thrashing Dortmund
-
Echavarria risks Masters Par-Three Contest curse with playoff win
-
Who stands in the crosshairs of Trump's tariffs?
-
US stocks soar on Trump tariff reversal, oil prices jump
-
Salah getting closer to new Liverpool deal: reports
-
NBA rescinds Doncic ejection foul in Thunder loss
-
Cricketer De Villiers gets a Masters hit with pal Bezuidenhout
-
Saudi top diplomat in US to prepare for Trump visit
-
Kvaratskhelia genius helps give PSG Champions League edge against Villa
-
Sensational Barca destroy Dortmund in Champions League mismatch
-
Author of explosive Meta memoir stars at US Senate hearing
-
King Charles addresses Italian parliament, greets pope on visit to Rome
-
Dominican Republic ends search for nightclub collapse survivors
-
Pentagon chief says US could 'revive' Panama bases
-
Trump stuns with tariff backtrack but punishes China
-
King Charles jokes, cites Monty Python at Italian state banquet
-
Strength in numbers: Latin America urges unity in face of Trump tariffs

Canada vows strong response, Mexico urges calm in face of Trump threats
Canada vowed strong pushback while Mexico urged calm on Tuesday in the face of US President Donald Trump's trade threats that risk throwing their economies into disarray.
The US president has accused both neighbors of being lax in preventing migrants and illicit drugs from coming into the United States, and called for a tightening of the borders.
Hours after taking his oath of office on Monday, he signaled that 25 percent punitive tariffs against the United States' two major trading partners could come as early as February 1.
He also said he would order troops to its border with Mexico to stem migrant flows.
"Canada will respond and everything is on the table," Prime Minister Justin Trudeau told a news conference, adding that Ottawa's reaction would be "robust and rapid and measured," but also match dollar for dollar the US tariffs on Canadian imports.
A Canadian government source told AFP that Ottawa is considering higher duties on US goods including steel products, ceramics like toilets and sinks, glassware and orange juice -- in a first phase of tariffs that could be extended.
Provincial and opposition leaders have also called for blocking exports of Canadian oil, electricity and critical minerals.
Mexican President Claudia Sheinbaum, meanwhile, downplayed the tariff threat while urging calm in the face of Trump's announcement of severe new restrictions on migration.
"It's important to always keep a cool head and refer to signed agreements, beyond actual speeches," she said at her regular morning conference.
- Bad neighbors -
Trump defended the tariffs on his first day in office, telling reporters as he signed an array of executive orders that Canada and Mexico are allowing "vast numbers of people to come in, and fentanyl to come in."
He signed an order directing agencies to study a host of trade issues including deficits, unfair practices and currency manipulation.
These could pave the way for further duties.
Sheinbaum, who has reacted to months of threats from Trump with a mix of pragmatism and firmness, noted that several of the measures dated from Trump's first mandate.
On trade, Canada and Mexico are theoretically protected by the Canada-United States-Mexico Free Trade Agreement (USMCA), signed during Trump's first term and hailed as "the best and most important trade agreement ever signed by the United States."
The pact replaced an earlier continental trade agreement from the 1990s and included new labor provisions aimed in particular at improving worker rights in Mexico.
It is due to be reviewed in 2026.
"For now, the trade treaty remains in effect," Sheinbaum noted.
Mexico leapfrogged China in 2023 to become the United States's largest trading partner. That year, the American trade deficit with Mexico rose to US$150 billion.
Trade conflicts between the three signatories have multiplied in recent years, concerning for example American genetically modified corn, Canadian dairy products, and trade in auto parts.
Trudeau on Tuesday warned that a trade war would cost the United States, but also "there will be costs for Canadians."
"This is a crucial moment for Canada and Canadians," he said.
According to economists, a trade war could plunge Canada -- which sends approximately 75 percent of its exports to the United States, led by its energy and auto sectors -- into a recession.
One scenario from Scotiabank suggests that any bilateral trade disruption could slash more than five percent from Canadian GDP, increase unemployment significantly and fuel inflation.
US GDP could fall by 0.9 percent, analyst Jean-François Perrault said in a research note.
According to the Canadian Chamber of Commerce, tit-for-tat tariffs would cause Canadian GDP to fall by 2.6 percent, while American GDP would suffer a decline of 1.6 percent.
burs-amc/st
O.Bulka--BTB