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Ottawa to unveil initial retaliation plan Monday if Trump uses Inauguration Day to proceed with tariff threats

  • The International Monetary Fund warns of a renewed U.S.-led trade war as Donald Trump prepares for his second term in office.
  • Trump plans to impose tariffs on imports, particularly targeting Canada, Mexico, and China, which could be announced shortly after his inauguration.
  • The Liberal Democrats urge the UK government to analyze the potential economic impact of Trump's tariffs, which could cost the UK economy £22 billion annually.
  • Business and Trade Secretary Jonathan Reynolds warns that new tariffs could increase inflation and unemployment in the UK, emphasizing the government's preparations for this scenario.
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