China and Canada retaliate against Trump’s ‘dumb’ tariff war

Canadian Prime Minister Justin Trudeau launched a stunning attack on Donald Trump’s “dumb” trade war as huge US tariffs kicked in against Canada, Mexico and China on Tuesday, sparking angry and immediate retaliation from all three. A furious Trudeau accused Trump of trying to cause the collapse of Canada’s economy to make it easier for the United States to annex his country, and blasted Washington for targeting a close ally while “appeasing” Russia over Ukraine. Mexican President Claudia Sheinbaum said she would lay out her country’s response on Sunday. Global markets fell sharply in response to the escalating trade war, with the S&P 500 — a major Wall Street index — extending recent losses to erase all of its gains since Trump’s US election victory in November.