Trump’s administration is implementing new tariffs on Mexico and Canada, which follows an earlier 10% tariff placed on China. The delay in tariffs was agreed upon with Canadian and Mexican leaders, but the wait is over as the tariffs are set to take effect on Tuesday. Their implementation could significantly affect various goods in the American market, especially given the high volume of imports from these countries, amounting to over $1.3 trillion in 2024. Key imports include oil, vehicles, and electronics, necessitating close monitoring of costs to consumers.
"There are going to be tariffs on Tuesday on Mexico and Canada," Lutnick said. "Exactly what they are, we're going to leave that for the president and his team to negotiate."
The presidency has already hit China with a 10% tariff, and Lutnick confirmed that more is coming unless the country cracks down on its drug policies, particularly to stop the flow of fentanyl into the US.
Collection
[
|
...
]