Trump's New Tariffs Spark Global Trade Tensions

President Donald Trump has imposed new tariffs of 25% on goods from Mexico and Canada and 10% on Chinese imports, citing reasons such as illegal immigration and drug trafficking, which has caused global market turmoil and fears of a trade war. European leaders, including Germany's Olaf Scholz, emphasize cooperation but are ready to retaliate with their own tariffs if necessary. Trump has hinted that the UK might avoid tariffs, suggesting a potential deal, whereas the EU may face tariffs soon. The tariffs have led to significant drops in stock markets worldwide, with the FTSE 100 and Wall Street indices experiencing notable declines. Financial analysts warn these tariffs could increase costs for US consumers and potentially harm global economic growth. Canada, Mexico, and China have announced retaliatory measures against these tariffs, adding to the escalating trade tensions.