"I just spoke with President Claudia Sheinbaum of Mexico. It was a very friendly conversation wherein she agreed to immediately supply 10,000 Mexican Soldiers on the Border separating Mexico and the United States. These soldiers will be specifically designated to stop the flow of fentanyl
"Though Trump has been threatening BRICS countries also, it remains as to when he would press the button. This could be a knee jerk on the Rupee, but it's better to wait and watch for a couple of days" the currency expert said.
Asian stock markets faced heavy selling pressure on Monday opening session after US President Donald Trump announced new tariffs on multiple countries.
The ministries said Beijing will challenge the decision before the World Trade Organization and take unspecified "countermeasures". The Ministry of Commerce said the tariff "seriously violates" international trade rules, urging the US to "engage in frank dialogue and strengthen cooperation",
US President Donald Trump on Sunday criticised the trade deficits that the US has with Canada, Mexico, China, and argued that America should no longer "subsidise" other countries, and urged businesses to manufacture domestically to avoid tariffs.
A day after Canadian Prime Minister Justin Trudeau announced a 25 per cent retaliatory tariff in response to US tariffs imposed by President Donald Trump, Trump claimed that the United States subsidises Canada and suggested that the country would not be viable without American support.
In a statement from the White House, Trump accused Canada of playing a "central role" in this influx, including by "failing to devote sufficient attention and resources" or "meaningfully coordinate" with the US law enforcement partners to effectively stem the tide of illicit drugs.
China has said that the US unilateral tariff hikes severely violate World Trade Organization (WTO) rules. The Chinese Ministry of Foreign Affairs noted that this move cannot solve the problems of the US at home and does not benefit either side.
While addressing a press conference on Saturday (local time), Trudeau stressed that Canada's response will be "far-reaching" and will include everyday items like American beer, wine, bourbon fruits and fruit juices.