Canada, China, Mexico and the art of retaliation

The three victims of Donald Trump’s trade war use different playbooks

Feb 2nd 2025|MEXICO CITY AND OTTAWA

The confrontation President Donald Trump announced on February 1st targets America’s three largest trading partners. He accuses them of endangering American interests and, starting on February 4th, will subject them to tariffs that are far more harmful than those he imposed in his first term. After decades in which America has supported broadly open markets, his actions look as if they will mark a new era of protectionism.