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Trump doubles down on Mexico tariff threat, markets rattled

President Donald Trump
US President Donald Trump [Photo, Courtesy]

President Donald Trump escalated his abrupt tariff threats against Mexico on Friday, triggering alarm about the likely economic fallout, spooking global markets and raising the prospect of US trade wars on multiple fronts.

Trump unexpectedly announced his readiness to levy tariffs on all Mexican imports, beginning at five percent starting June 10 and rising monthly to as high as 25 per cent until Mexico substantially reduces the flow of illegal immigration.

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