US to impose 25pc tariff on Canada, Mexico starting today

Washington: The US will impose a 25 percent tariff on Canada and Mexico from today, and additional charges on imports of goods from China to the US will also be implemented from today.

This move has seen an unprecedented decline in the US stock market.

President Trump's move is likely to reduce the production of all goods manufactured in Canada that are sent to the US, which will lead to job losses, inflation, and economic devastation in the election year.

Following these reports, for the first time in 2025, the S&P 500 saw a 1.8 percent decline in a single day, while the Nasdaq Composite fell 2.6 percent and the Dow Jones Industrial Average fell 1.5 percent.

In addition, the value of shares of the world's top technology companies also fell.

In response, the Canadian Foreign Minister has said that the United States will be given an immediate response, and Canada is also ready for a $155 billion tariff, the first installment of which will be $30 billion.