President Trump has implemented 25% tariffs on imports from Canada and Mexico, excluding oil which faces a 10% tariff. China also faces a 10% tariff. This move, aimed at curbing fentanyl production and illegal immigration, has sparked immediate retaliation from Mexico and Canada and threatens to disrupt global trade and potentially worsen inflation.
Trump has imposed 25% tariffs on imports from Canada and Mexico, excluding oil, which will have a 10% tariff, along with a 10% tariff on imports from China.— fulfilling one of his post-campaign commitments to voters that threatened to spark higher inflation and disrupt businesses across North America as the countries vowed harsh measures in response.
"We categorically reject the White House’s slander that the Mexican government has alliances with criminal organizations, as well as any intention of meddling in our territory,” Sheinbaum wrote. “Effective today, I have directed B.C. liquor sales to immediately stop buying American liquor from red states,” he said. “Liquor store employees will be removing the most popular of these brands from government store shelves.”
The order would also allow for tariffs on Canadian imports of less than $800. Imports below that sum are currently able to cross into the United States without customs and duties. With the tariffs, Trump is honoring promises that are at the core of his economic and national security philosophy. But the announcement showed his seriousness around the issue as some Trump allies had played down the threat of higher import taxes as mere negotiating tactics.
Economics TRUMP TARIFFS CANADA MEXICO CHINA FENTANYL INFLATION TRADE WAR ECONOMIC IMPACT
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