Donald Trump has proposed a 25 percent tariff on imports from Canada and Mexico, effective February 1st, which could raise prices for various goods including electronics, agriculture, and vehicles. The White House indicated that tariffs on China are also under consideration. These tariffs align with Trump’s campaign promises, despite previous hesitations. The potential impact on USMCA, a free trade agreement valued at $1.8 trillion in goods and services traded in 2022, is significant, as Mexico is a primary supplier of several goods to the US market.
Electronics, avocados, vegetables, cars, tractors, crude oil - these are some of the things that could soon get more expensive for US consumers.
Trump was "very much still considering" tariffs on China on the same day, adding uncertainty to international trade relations.
He’s previously threatened up to a 60 percent tariff on goods from China, a 100 percent tariff on goods from Mexico, and even a 200 percent tariff on John Deere products.
In 2022, around $1.8 trillion of goods and services moved between countries under the current United States-Mexico-Canada Agreement.
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