The global commercial struggle begins when China, Canada and Mexico take revenge

US tariffs against Canada and Mexico, which come into force on Tuesday, are not part of a trade war, but an attempt to stop the fentanyl flow across the limits, said commercial minister Howard Lutnick.

“Current tariff policy is a drug -related policy. There are opioids that flow into this country. They kill around 75,000 autopsy Americans a year,” said Lutnick during an interview about CNBCS “Squawk Box”. “China produces the opioid products, and then Mexico and Canada feed them to America, and that has to end. They did a good job at the border, but they didn't stop the fentine river.”

Although President Donald Trump has taken strict hand in relation to the duties, Lutnick offered hope that they can be lifted if more progress is shown.

“If you can stop the fentany river and prove to the president that you can stop the fentany river, the president can of course remove these tariffs,” he said.

Lutnick differentiated the 25% tariffs for Canada and Mexico from those that will be effective on April 2. He said that he would “reset” the trade policy that referred to the flow of goods and services. He also noticed that “there may be short -term price movements” that the consumers meet “, but in the long run it will be completely different.”

– Jeff Cox

Oil prices fell back on Tuesday morning when the tariffs of President Donald Trump in Canada and Mexico agree with higher stocks of Opec+and set the prospects for crude oil.

We raw The oil had dropped by 70 cents or 1.02%at EUR 67.67 per barrel until 9:20 a.m. Brent 1.02 USD or 1.42%traded, lower at $ 70.60 per barrel.

Trump's tariffs include 10% tasks on energy imports from Canada. Many US agents, especially in the middle west, are dependent on heavy raw imports from Canada.

While the taxes for energy imports in North America will probably disturb the raw rivers, 25% tariffs could slow down economic growth for the two largest trading partners in the United States and depress oil demand.

Shares of refineries Petroleum marathonPresent Phillips 66 And Valero All fell in the Premarket trade.

In the meantime, OPEC+ confirmed on Monday that from April it will gradually bring 2.2 million barrels back to the market per day and have another shadow about the offer and demand style.

– Spencer Kimball

The 25% tariffs of US President Donald Trump from Mexico could already lead to higher prices this week, so Target Brian Cornell.

The company's CEO said on Tuesday that Target will leave Mexico in the winter season in order to maintain a “considerable” quantity for some categories such as fruit and vegetables, which means that the taxes could cause the company to increase the prices for these goods soon.

“These are categories in which we will try to protect pricing, but the consumer will probably record price increases in the next few days,” he said in the “Squawk Box” of CNBC according to the latest quarterly results from Target.

Cornell added that strawberries, avocados and bananas were some of the most important products in which price increases could be recorded.

“We will try to ensure that we can do anything to protect pricing, but if there is a tariff of 25%, these prices will increase,” he said too.

– Sean Conlon, Jacob Pramuk, Gabrielle Fonrouge

The Mexican President Claudia Sheinbaum is now talking about the US tariffs and says that there is no justification for the new taxes for imports from her country.

Sheinbaum said that she would announce retaliation tariffs this weekend.

“We decided to answer with a tariff and non-tariff measures that I will announce on Sunday,” said Sheinbaum.

– Jesse Pound, Fred Imbert

The legendary investor Warren Buffett made a rare comment on Trump's tariffs at the weekend and warned their negative effects on the consumer.

“Tariffs are actually, we have a lot of experience with them. They are a act of war to a certain extent,” said Buffett, whose conglomerate Berkshire Hathaway has large companies in insurance, railways, production, energy and retail.

“Over time, you are a tax on goods. I mean, the tooth fairy does not pay it!” The 94-year-old Buffett said with a laugh. “And what then? You always have to ask this question in business. You always say: 'And what?'”

– Yun Li

The Canadian Prime Minister Justin Trudeau said on Monday that retaliation duties on US goods will begin on Tuesday when US President Donald Trump carried out his proposed taxes.

Canada will impose 25% for US goods for $ 155 billion ($ 107 billion). Taxes for the remaining $ 125 billion ($ 86.7 billion) start in 21 days.

“Our tariffs remain until the US trade lawsuit is withdrawn, and we should not stop, we are in active and ongoing discussions with provinces and territories to pursue several non-tariff measures,” said Trudeau.

– Sarah min

While Canada and China have already announced retaliation tariffs, Mexico has not made a similar proclamation from Tuesday morning.

Trump and Mexican President Claudia Sheinbaum had previously worked together in border security, but the US President said on Monday that there was no more space for negotiations.

The CEO of Target, Brian Cornell, said on Tuesday that the tariffs on Mexico could lead to an increase in prices for the products in the coming days.

– Jesse Pfund

President Donald Trump confirmed on Monday that the United States will impose mutual tariffs against countries on April 2, which will use his administration for unfair trading practices.

“Mutual tariffs begin on April 2,” said Trump reporters at a press conference that announced an investment of $ 100 billion from Taiwan Semiconductor.

The goal of Trump's policy is to reduce the US trade deficit, which he described as a national security threat in a presidential amorandum signed on February 13.

The European Union will probably be in the crosshairs when Trump's mutual tariffs become effective. The president has repeatedly criticized the value creation tax for goods and services in European countries and claims that US companies are disadvantageous.

Trump's presidential memorandum about mutual tariffs expressly calls the VAT.

Trump threatened to impose 25% tariffs on the EU during a cabinet seat last Wednesday, and claimed that the block was formed to “fool the United States”.

According to the office of the US trade representative, the entire US goods trade with the EU was 975 billion US dollars in 2024.

– Spencer Kimball

China quickly withdrawn from Trump's recent tariff plans.

The Chinese governments announced retaliation tariffs for some US goods of up to 15%on Tuesday, from March 10th and new export controls.

The new tariffs from China are aimed at the US agricultural sector. Us -corn will be exposed to a tax of 15%, while soybeans are made with a tariff of 10% according to the website of the Ministry of Finance.

The movements are an additional 10% tariff of the USA on Chinese good, which will be effective on Tuesday.

China's relationship with the USA will inevitably see differences of opinion, but China will not accept pressure or threatening, Lou Qinjian, spokesman for the third session of the 14th National People's Congress, told reporters on Tuesday morning.

– Jesse Pound, Evelyn Cheng

The stock market has problems when investors deal with the expected effects of President Donald Trump's tariffs on the economy.

The S&P 500 The worst day of 2025 on Monday, whereby the losses at the meeting were steeply after Trump made it clear that his planned taxes would come into force. With this decline, the width index is now in the red.

Shares with remarkable connections to countries that were beaten with tariffs felt the heat. ford And General Motors Both are in the Premarket on Tuesday and expand the losses this year. ChipotleThe about half of his avocados from Mexico also withdraw from the bell and declined by almost 10% in 2025.

– Alex Harring

Trump hoped for a last-minute deal that could avoid a trade war with 25% tariffs for goods that were led from Canada and Mexico at midnight.

Trump informed the reporters on Monday afternoon that “no space for Mexico or for Canada” was to negotiate an alternative to the tariffs that he has threatened for weeks.

Trump also imposed an additional 10% tariff for Chinese imports on Monday, which doubled the 10% duty, which he had hit on Beijing in early February.

– Yun Li, Kevin Breuninger