According to a report, stockmarkets around the world fell following news of the u.s. president’s introduction of trade tariffs on goods entering from Canada, Mexico and China. Reportedly, tariffs on goods entering from Canada and Mexico are to be charged 25%, and China 20%. According to the report, analysts said the tariffs could raise prices for u.s. households and around the world.
Reportedly, according to the president the tariffs are a response to drugs and illegal immigrants entering the u.s. but Canada said they are responsible for less than 1% of fetanyl entering the u.s. Fetanyl is a highly potent synthetic opioid said to be 30 to 50 times more potent than heroin. According to the report, in response, Canada are expected to impose 25% tariffs on $150 billion worth of u.s. goods.