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President Trump has officially terminated all trade negotiations and deals with Canada, following a controversy over a Canadian advertisement featuring former President Ronald Reagan criticizing tariffs. This unprecedented move marks a major escalation in economic tensions between the U.S. and its second-largest trading partner, with immediate impacts on tariffs, exports, and business outlook for both nations.
The global economy is facing a dual challenge in 2025, sky-high debt levels and an unsettling wave of investor complacency even as trade tensions escalate. These dynamics are quietly reshaping fiscal stability, asset valuation, and policy responses across both advanced and developing economies.
In recent days, the U.S.–China trade tension has escalated further. Donald Trump’s renewed push for 100% tariffs on Chinese imports and new 25% tariffs on heavy-duty trucks has now been met with direct maritime retaliation from Beijing.