India, March 4 -- A day after hitting record highs, German stocks are deep down in negative territory Tuesday morning amid rising worries about a global trade war and its impact on growth, as new U.S. tariffs on Mexico, Canada and China become effective today.
Adding to the woes, U.S. President Donald Trump reiterated that he will impose reciprocal duties with effect from April 2, and the first target will be a levy on agricultural products.
In retaliation, Canada announced 25% tariffs on $107 billion worth of U.S. goods, with $20.7 billion in immediate effect. Mexican President Claudia Sheinbaum said her country is preparing countermeasures.
China has announced 15% tariffs on U.S. chicken, wheat, corn and cotton, plus 10 percent cent ta...