{"id":84976,"date":"2025-03-06T00:00:00","date_gmt":"2025-03-06T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2025\/03\/06\/canada-launches-retaliatory-tariffs-on-the-us-mexico-to-respond-us-firms-to-control-panama-canal-ports\/"},"modified":"2025-03-06T00:00:00","modified_gmt":"2025-03-06T00:00:00","slug":"canada-launches-retaliatory-tariffs-on-the-us-mexico-to-respond-us-firms-to-control-panama-canal-ports","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2025\/03\/06\/canada-launches-retaliatory-tariffs-on-the-us-mexico-to-respond-us-firms-to-control-panama-canal-ports\/","title":{"rendered":"Canada launches retaliatory tariffs on the US, Mexico to respond + US firms to control Panama Canal ports"},"content":{"rendered":"

<\/strong>Canada retaliates with tariffs on US: <\/strong>Canada has launched 25% retaliatory tariffs on a total of CAD 155 bn worth of US goods, the tariffs on CAD 30 bn of the total will be effective immediately, while the other CAD 125 bn will be effective in three weeks, on cars, trucks, steel and aluminum, Asharq Business<\/a> reported on Tuesday. Ontario state is also planning to impose another 25% tariff on electricity supplied to 1.5 mn homes in the US\u2019 Minnesota, Michigan and New York, according to the news outlet, citing Ontario Premier Doug Ford. <\/p>\n

And Mexico pledges a response by Sunday: <\/strong>Mexico\u2019s President Claudia Sheinbaum said that her administration would respond with retaliatory tariffs by Sunday, but said that it will wait for a planned phone call with Trump before the announcement, the Associated Press reports<\/a>. <\/p>\n

REFRESHER-<\/strong> US President Donald Trump officially slapped 25% tariffs on Canada and Mexico starting Tuesday<\/a>, effectively leaving no further room for talks. <\/p>\n

Some good news? <\/strong>Trump is ready to scale back some of the recently imposed tariffs and to \u201cmeet [Mexico and Canada] in the middle,\u201d the US Commerce Secretary Howard Lutnick told CNBC<\/a> on Tuesday. The unspecified compromises were supposed to be revealed yesterday.<\/p>\n

Other countries might be next: <\/strong>Trump blasted both South Korea and India for their alleged high tariffs on US products during his address to the US Congress on Tuesday, raising the prospect of an expanding trade war, Bloomberg<\/a> and the Times of India<\/a> reported. \u201cSouth Korea\u2019s average tariff is four times higher\u201d what the US impose on Korean products, Trump bemoaned in his speech. The US President also accused India of imposing duties on US auto imports that are \u201chigher than 100%\u201d, pledging to consider retaliatory tariffs starting 2 April. <\/p>\n

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<\/strong>U<\/strong>S <\/strong>firms snap up Panama Canal <\/strong>ports: <\/strong>Hong Kong-based conglomerate CK Hutchinson has sold a majority stake in its USD 22.8 bn ports arm to a consortium led by the US\u2019 Blackrock for USD 19 bn, Reuters<\/a> reports. The transaction saw the US-based buyers handed control of ports along the Panama Canal, which US President Donald Trump commended as the US \u201creclaiming\u201d the waterway, CNBC<\/a> reports.<\/p>\n

Here is a rundown of the assets secured by Blackrock investors:<\/strong><\/p>\n