Borders, Barriers, and the Cost of Control

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• 🇲🇽 Mexico: 25% on all goods.
• 🇨🇦 Canada: 25% on most goods, 10% on energy products.

• 🇨🇳 China warns of retaliation.
• 🇪🇺 EU calls it “a major blow to global stability”.
• 🇨🇦 Canada expresses “deep disappointment”.

• 🇨🇦 Canada 25% across the board, plus 10% on Canadian oil.

Market reaction: Nikkei dips, 🇺🇸 U.S. tech stocks wobble, soy futures slide.

• 🇲🇽 Mexico calls move “unjustified”.
• 🇯🇵 Japan seeks WTO consultation.
• 🇩🇪 Germany urges 🇪🇺 EU-wide response.

• 🇨🇳 China threatens rare earth export restrictions.

Trump announces reciprocal tariffs globally, but suspends most for 90 days — except 🇨🇳 China.

Apple, Meta, and high-end fashion brands take a hit.

• 🇨🇳 China cancels trade talks.
• 🇸🇬 Singapore warns of regional instability.

• 🇪🇺 EU imposes retaliatory tariffs.
• 🇨🇦 Canada announces $16.6B in countermeasures.
• 🇲🇽 Mexico targets pork, whiskey, steel.

Trump and PM Carney set 30-day goal for a trade deal, but talks stall over 🇨🇦 Canada’s tech tax.

• 🇨🇳 China accuses 🇺🇸 U.S. of “trade bullying”.
• 🇰🇷 South Korea urges de-escalation.

• 🇲🇽 Mexico: 25% tariffs on cars and fentanyl goods remain.
• 🇨🇦 Canada: Trump threatens 35% tariffs on non-CUSMA goods; new 50% tariffs on semi-finished copper announced.

• 🇨🇳 China vows “necessary countermeasures”.
• 🇦🇺 Australia warns of global slowdown.

• 🇮🇳 India hit with additional 25% tariff over Russian oil ties.

Sweeping tariff expansion targeting over 60 countries.

Fast fashion and e-commerce platforms (like fast fashion from Shein and Temu) face new tariffs.

A major shift in 🇨🇦 Canada’s trade stance, though tariffs on steel, aluminum, and autos remain in place

Carney unveiled an $80M relief fund for small and medium-sized businesses in Atlantic 🇨🇦 Canada affected by 🇺🇸 U.S. tariffs.

🇯🇵 Japan gets 15% tariffs for $550B investment; profit split shifts from 50/50 to 90/10 favoring 🇺🇸 U.S. after payback.

Official certificates of origin required for 🇨🇳 Chinese goods containing steel or aluminum, which already have a 25% tariff.

The move is a signal of easing trade tensions, timed ahead of President Erdoğan’s trip to the 🇺🇸 U.S.

🇺🇸 U.S. reduced tariff on 🇪🇺 EU autos and auto parts from 25% to 15%, retroactive to August 1, 2025.

100% tariff on branded or patented pharmaceutical imports (unless the company is building a 🇺🇸 U.S. facility)

25% tariff on heavy trucks

50% tariff on kitchen cabinets and bathroom vanities.

30% on upholstered furniture.

Foreign firms required to obtain licenses for exports involving 🇨🇳 Chinese-derived materials or production technology, with full enforcement slated for December 1.

The 🇺🇸 U.S. will also restrict exports of “any and all critical software” to 🇨🇳 China

Nasdaq dropped 3.6%, S&P 500 fell 2.7% following the announcement.

25% tariffs on imported medium/heavy trucks.

10% on buses.

Takes effect November 1, 2025

🇨🇦 Effective October 15.

Applies to products not domestically available or needed for health/security sectors.

Details to be published by November 5.

⚖️ 🇨🇦 Canada imposes new caps on tariff-free imports from Stellantis and GM, enforcing trade deal rules and responding to reduced 🇨🇦 Canadian manufacturing.

⚖️ 🇨🇦 Canada reduces Stellantis’ tariff-free vehicle quota by 50%, citing the company’s decision to move Jeep Compass production to the 🇺🇸 U.S.

⚖️ GM’s tariff-free import quota is reduced by 24.2% after ending BrightDrop electric van production in 🇨🇦 Ontario.

🛑 Trump terminated all 🇺🇸 U.S.–🇨🇦 Canada trade negotiations.

A new 35% tariff was imposed on 🇨🇦 Canadian imports—automotive, steel, agriculture.

🇺🇸 Trump imposes a 10% tariff on 🇨🇦 Canadian imports in retaliation for Ontario’s Reagan-themed ad. Lumber and wood products hit immediately.

📉 🇺🇸 Trump reduced tariffs on fentanyl-linked imports after talks with 🇨🇳 Xi. The meeting also yielded a rare earth minerals agreement, easing trade tensions.