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Trump stirs tariff pot with fresh threats on EU, Feb 1 China deadline

  • U.S. President Donald Trump announced plans for tariffs on the European Union and a 10% duty on Chinese imports due to fentanyl trafficking from China via Mexico and Canada.
  • Trump set a February 1 deadline for 25% tariffs on Canada and Mexico, aiming to pressure them to curb illegal drug trafficking.
  • Financial markets reacted briefly to Trump's measured tariff approach, but concerns remain about potential disruptions to trade, especially for corn farmers.
  • Mexican President Claudia Sheinbaum emphasized Mexico's sovereignty in response to U.S. Actions, stating they would react step by step.
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