President Trump recently issued new tariffs on goods imported from Mexico, Canada, and China, his administration's largest trading partners. These tariffs, effective immediately, could precipitate a significant trade war reminiscent of his first term. Specifically, all products from Canada and Mexico now face a 25 percent tariff, with notable exceptions for Canadian energy products at 10 percent. The tariffs on China have doubled to 20 percent. Economically, the auto and electrical sectors in Mexico, and farming and fishing in the U.S., are among the most vulnerable to the cost increases this will trigger.
President Trump has initiated new tariffs that will impact goods from Mexico, Canada, and China, potentially igniting a significant trade war as he targets major trading partners.
The new tariffs on Canadian and Mexican imports are set at 25%, with exceptions, while imports from China now face a 20% tax, up from 10%.
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