Trump sharply raised tariffs on goods from China, Canada and Mexico, which caused stock market prices for corn and soybeans to collapse

Published 2025년 3월 4일

Tridge summary

US President Donald Trump has announced increased tariffs on Chinese goods, and the introduction of 25% tariffs on Canadian and Mexican goods from March 4, followed by tariffs on all imported agricultural products starting April 2. The markets reacted negatively, with a fall in US stock indices and prices for corn and soybeans. Canadian Prime Minister Justin Trudeau has stated that if tariffs are imposed on Canadian goods, Canada will impose a 25% tariff on goods from the United States. Economists warn that tariffs could lead to higher prices and inflation in the US, but Trump believes it will ultimately benefit the US economy.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

US President Donald Trump has increased tariffs on Chinese goods from 10% to 20%, citing “the failure of the Chinese authorities to take action to reduce the continued flow of synthetic opioids, including fentanyl.” He also announced the introduction of a 25% tariff on Canadian and Mexican goods starting March 4 and the introduction of tariffs on all imported agricultural products starting April 2. “Big farmers need to produce more agricultural products to sell inside the United States. Tariffs on foreign products will take effect on April 2. Have fun!” Trump said. The markets reacted to this with a fall in US stock indices by 1.5-2.6% and a decrease in prices for corn and soybeans, which will be the first to suffer from the introduction of mirror duties by importers. On the Chicago Board of Trade, March corn futures fell 3.1% yesterday to $173.3/t (-12.5% for the month), and soybean futures fell 1.4% to $366.8/t (-7.7%). In 2024, the United States exported 30 million tons of ...

Source: UkrAgroConsult