| Investors look likely to be initially favoring the US dollar, propelling it to new highs, and may shun stocks after President Donald Trump carried out his threat to impose general levies of 25% on Canada and Mexico and 10% on Chinese goods starting on Tuesday, sparking commitments to retaliate from other governments. Trump's tariffs against Canada and Mexico will threaten production at automakers across North America and send record vehicle prices even higher, with about a quarter of a trillion dollars in trade set to be disrupted. Barring a surprise, the tariffs are set to take effect at 12:01 a.m. on Tuesday, giving manufacturers less than 48 hours to figure out what to do.  Vehicles parked at General Motors in Silao, Guanajuato state, Mexico. Photographer: Mauricio Palos/Bloomberg Chinese stocks listed in Hong Kong will come under renewed pressure when they resume trading on Monday following a three-session break, after Trump fired the first salvo of his tariff war. Fears of rising levies had already helped push the MSCI China Index into a bear market last month. Secretary of State Marco Rubio told Panamanian leaders that the US would protect its rights under the Panama Canal Treaty if the Central American nation didn't move to oust Chinese-connected companies near the critical waterway. The Indian middle class, and even some of its top 10% earners, are now fully exempt from income taxes, writes Andy Mukherjee for Bloomberg Opinion. Small businesses don't expect such largesse; they just want to know when they will be free of stifling red tape. | 
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