China and Canada fought off when tariffs on Trump take

Canada, Mexico and China have promised to avenge after the tariffs for the goods in the United States from its countries came into force on Tuesday.

US President Donald Trump introduced 25% of the tariffs against Canada and Mexico, as well as 20% of China’s tariffs.

Stock markets in the US, UK and Asia plunged after the introduction of taxes amid the fears of the trade war.

Analysts have warned that tariffs could push the prices for the US household and can also affect consumers around the world, including in the UK.

Trump has threatened to impose tariffs that are a product tax when it enters the country – in Canada, Mexico and China in response to the fact that claims are inadmissible to the flow of illegal drugs and illegal immigrants in the US.

But Canada Prime Minister Justin Trudu said his country is responsible for less than 1% Fentanyl, which is in the US and avenged 25% of US $ 150 billion tariffs.

China has rapidly announced its own counter-measures that include 10-15% of tariffs for some US agricultural goods, including wheat, corn, beef and soy. Mexico is expected to announce its response later.

The three major indexes on the US stock market drowned after news, while the FTSE 100 largest in the UK opened on Tuesday, and the stock markets in Asia were also reduced.

Andrew Wilson from the International Chamber of Commerce said: “What we see is the greatest effective increase in tariffs in the US since the 1940s – with serious economic risks related to this.”

“The initial market steps completely reflect what we are now entering a very risky scenario for the world trade and for the world economy,” he said today BBC Radio 4 programs

He said that Yale University predicted that these measures could cost US $ 2000 in the region this year.

Ella Hox, head of fixed income in Newton Investment Management, said the BBC: “In terms of consumers, you are more likely to look at the short term, increasing the prices when companies transfer some of these consumer prices.”

Chris Torence, Vice -President of the British Chamber of Commerce in China, added: “This is a big problem for British businesses from the UK and the United States.

“But there is a true sense of hope for a stronger relationship with the UK.”