Trump Hits Canada and Brazil With Hefty New Tariffs | Escalates Trade War | Global Trade Jitters
President Donald Trump has dramatically escalated his global tariff campaign, announcing a new 35% tariff on Canadian goods set to take effect August 1, 2025. This move, communicated via his Truth Social platform, follows earlier tariffs on steel, aluminum, autos, and auto parts. Trump justifies the action by blaming Canada for a trade deficit and allegedly insufficient action against fentanyl trafficking—even though fewer than 1% of fentanyl seizures originate from Canada. Just one day earlier, he targeted Brazil with a 50% import tariff, linking it to the legal proceedings against former President Jair Bolsonaro and decrying what he called a 'witch-hunt.' Brazilian President Lula da Silva responded by promising retaliatory tariffs and invoking Brazil's reciprocity law. The announcement has stirred strong domestic unity in Brazil. Global markets responded sharply: U.S. and European stock futures declined nearly 1%, the Canadian and Brazilian currencies weakened, and safe-haven assets like the U.S. dollar and gold gained ground. Bitcoin surged to a record four-figure level as investors sought alternative stores of value. Internationally, China, the EU, and various industry groups condemned the tariffs as violations of international trade norms. Observers warn that Trump's aggressive trade strategy threatens to destabilize the USMCA agreement, disrupt supply chains, raise inflation, and damage longstanding U.S. alliances. #TradeWar #Tariffs #Canada #Brazil #Trump #USMCA #GlobalMarkets #China #Europe #FentanylCrisis India Today Global is an India-based news channel that serves as an international arm of India's prominent media organization. It aims to provide factual, up-to-date news, analysis, and insights from India and around the world. The channel delivers a mix of content, including political news, business updates, entertainment, and cultural stories, focusing on both India-centric news and broader global issues. India Today Global features expert commentary, interviews, and in-depth reporting on key developments in India, as well as how they intersect with global events. It is known for its reputation as a trusted source of news in India. India Today Global is designed to cater to the Indian diaspora in the US while also appealing to international viewers interested in South Asian affairs and perspectives on global news. It's the English news brand that understands and fits perfectly into the digital-first lifestyles of our English news audiences. The marquee shows of our channel are: Statecraft: Our Executive Editor Geeta Mohan decodes the truth, cut out the noise, and present you the real facts that shape your world. We'll dissect the narratives spun by competing interests, analyze the subtle shifts in geopolitical landscapes, and illuminate the underlying forces that drive international relations. Expect rigorous analysis, informed perspectives, and a commitment to clarity in a world often obscured by deliberate ambiguity. We'll explore the economic levers, the military strategies, and the cultural influences that intertwine to form the complex tapestry of global power. Join us as we navigate the corridors of influence and reveal the hidden mechanisms that govern our interconnected world. Threadbare: We dive deep into global politics to unwind myths and expose false narratives shaping the world. Our episodes tackle disinformation, political information, and geopolitical myths to provide fact-based insights. Stay informed with in-depth analysis on international relations, political crisis, and global events. If you're interested in debunking political myths, exploring truth behind media narratives, and understanding the real forces driving global politics, this playlist is for you! Follow us on Twitter: https://x.com/ITGGlobal Follow us on Instagram: / indiatodayglobal Follow us on Facebook: / indiatodayglobal Follow us on Website: https://www.indiatoday.in/global Watch our marquee shows: Pakistan’s Stolen Daughters: The Hidden Horror of Forced Conversion | Statecraft | Episode 129 • Pakistan’s Stolen Daughters: The Hidden Ho... Trump vs Facts: Who Really Ended the India-Pakistan Standoff? | Homeland with Pooja Shali • Trump vs Facts: Who Really Ended the India... Trump’s Trade Fantasy With Pakistan | What Else Can Pakistan Produce Except Terrorism? | POV | Episode 02 • Trump’s Trade Fantasy With Pakistan | What... Drone Wars, Social Media Threats, and a Frustrated Trump | World Today • Drone Wars, Social Media Threats, and a Fr... Trump’s Saudi Salute, Sleepy Slip & 1000-Year Kashmir Gaffe! | Viral POTUS | Episode 06 • Trump’s Saudi Salute, Sleepy Slip & 1000-Y... How India Can Win Its Global Diplomatic Battle With Pakistan | Threadbare | Episode 38 • How India Can Win Its Global Diplomatic Ba...