On his first day back in office, President Trump announced his intention to impose 25% tariffs on imports from Canada and Mexico, starting February 1. While previously threatening to impose higher tariffs on China, Trump signaled a more cautious approach following discussions with President Xi Jinping. He attributed rising inflation to the pandemic relief measures by the previous administration and highlighted regulatory changes to boost domestic energy production, including drilling in protected areas. Trump’s actions also include directives to federal agencies to explore ways to reduce living costs and improve economic conditions.
Trump is betting that his executive actions can cut energy prices and tame inflation while tariffs strengthen the economy, but their effectiveness remains uncertain.
During his first day back in the White House, Trump announced plans to impose 25% tariffs on Canada and Mexico, sparking concerns over trade relations.
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