United States (US) President Donald Trump has hit the ground running on his latest tariffs, vowing to impose additional "reciprocal tariffs" on Canada in response to Canada's retaliatory trade actions against Trump's 25% tariff on all Canadian goods crossing the border into the US.

Tit-for-tat trade wars that accomplish little but cost consumers in both countries was a hallmark of President Trump's first term in office, and Donald Trump appears keen to set new records as he risks sparking recessions both at home and abroad barely six weeks into his second term.

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