Trump imposes tariffs on Canada, Mexico, and China

U.S. President Trump announced on Saturday the implementation of import tariffs on Canada, Mexico, and China. The tariffs include 25% on products from Canada and Mexico, and 10% on Canadian gas.

Chinese products will see a 10% tariff, in addition to existing tariffs. According to the White House, these tariffs will take effect this coming Tuesday, fulfilling one of Trump’s campaign promises.

All three countries are expected to retaliate. Trump aims to make life more affordable for Americans and cites a national emergency related to the influx of fentanyl, other drugs, and migrants into the U.S. He is pressuring these countries to stop fentanyl production and distribution and to address illegal migration to the U.S. Trump’s statement emphasizes the significant impact of these issues on American life, healthcare, public services, and communities, with tariffs remaining until the crisis abates.

No specific measures for lifting the tariffs were disclosed. Experts warn that tariffs might slow U.S. economic growth, increase living costs due to expected inflation, and cause potential recessions in Canada and Mexico.

Trump defended the tariffs on social media as necessary to protect Americans. This move ignites an economic conflict with the U.S.’s top trading partners, Mexico and Canada.

Canadian Prime Minister Justin Trudeau cautioned Canadians about challenging times but assured Ottawa’s readiness for retaliatory tariffs. The Mexican president remained calm, expressing confidence in Mexico’s robust economy.

Source: NOS

Share