New York CNN —
US stocks had a volatile morning Tuesday after President Donald Trump made good on his threat to levy tariffs on Canada and Mexico, paving the way for a global trade war as leaders of both trading partners threatened retaliation.
The hefty tariffs imposed by the Trump administration could contribute to a crash in the global economy, similar to the Great Depression of the 1930s, said Andrew Wilson, deputy secretary-general of the International Chamber of Commerce, according to the Wall Street Journal.
“Our deep concern is that this could be the start
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