President Trump announced 25% tariffs on imports from Canada and Mexico, and 10% tariffs on Chinese goods, effective immediately. The tariffs aim to pressure these countries into stronger cooperation on illegal immigration and fentanyl smuggling. However, the move carries both political and economic risks, potentially triggering inflation and trade conflicts.
White House says Trump will implement tariffs of 25 percent on Canadian and Mexican imports and 10 percent on Chinese goods with immediate effect.The tariffs carry both political and economic risks for Trump , who is just two weeks into his second term. / Photo: AFP
The tariffs carry both political and economic risks for Trump, who is just two weeks into his second term. "I'm probably going to reduce the tariff a little bit on that," Trump said of oil."We think we’re going to bring it down to 10 percent." "We should expect all three countries to retaliate," said Wendy Cutler, a former US trade negotiator.
"We are ready with a response, a purposeful, forceful but reasonable, immediate response," he said."It's not what we want, but if he moves forward, we will also act."
TRUMP TARIFFS CANADA MEXICO CHINA TRADE WAR IMMIGRATION FENTANYL
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Car Prices Could Soar If Trump Imposes Tariffs on Mexico and CanadaTom Maoli, owner of a New Jersey car dealership, warns that drivers could face significant price increases if President Trump follows through on his 25% tariff threat against Mexico and Canada. He explains that tariffs on imported parts, many of which originate from these countries, will inevitably be passed on to consumers, leading to a 5% to 15% jump in new car prices. Used car prices would also rise due to increased demand. Maoli highlights that even routine car repairs would become more expensive, as parts like brake pads and washer fluid are also imported. While some hope tariffs might incentivize car manufacturing to return to the U.S., this process could take 18-24 months, leaving consumers vulnerable to immediate price hikes.
Read more »
Trump Imposes Tariffs on Canada and Mexico, Oil Inclusion Remains UnclearPresident Trump announces 25% tariffs on Canadian and Mexican goods, effective Saturday. The decision, framed as a response to immigration and fentanyl concerns, sparked debate over potential impacts on gas prices and inflation. Uncertainty remains regarding whether oil imports will be included in the tariffs, a move that could significantly impact energy costs for American consumers.
Read more »
Trump Imposes Tariffs on Canada and Mexico, Weighs Impact on Oil ImportsPresident Trump announced 25% tariffs on Canadian and Mexican goods, raising concerns about rising gas prices and strained relations with key trading partners. While the tariffs are framed as a response to immigration and drug trafficking, the potential inclusion of oil imports could significantly impact energy costs and inflation.
Read more »
Trump Imposes Tariffs on Canada and Mexico, Weighing Oil Import TaxesPresident Trump announced 25% tariffs on goods from Canada and Mexico, citing concerns over illegal immigration and fentanyl. The potential extension of these tariffs to oil imports has raised concerns about rising gas prices and strained relations with key trading partners.
Read more »
Trump Imposes Tariffs on Canada and MexicoPresident Trump announces new tariffs on Canada and Mexico, citing concerns about immigration, drugs, and trade imbalances. The move threatens to escalate trade tensions and potentially trigger a trade war.
Read more »
Trump Imposes 25% Tariffs on Canada and Mexico, Weighs Oil ImportsPresident Trump announced 25% tariffs on goods from Canada and Mexico, citing concerns over illegal immigration and fentanyl. He is yet to decide if oil imports will be included, a move that could impact gas prices and inflation. Trump's threat to impose tariffs on oil has raised concerns about rising gas prices, a key issue for voters. Canada and Mexico are major oil suppliers to the U.S., and the tariffs could lead to increased costs for refineries, potentially pushing gas prices higher.
Read more »