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President Trump took decisive action on Saturday by imposing tariffs on imports from Canada, Mexico, and China. These countries had previously disregarded his warnings regarding potential tariff implementation.
The tariffs were levied under the International Emergency Economic Powers Act, with the following rates applied:
– 25% on all imports from Mexico
– 25% on nearly all imports from Canada, with a reduced rate of 10% on Canadian energy resources
– 10% on all imports from China
From tommorow Canada Mexico will all receive 25% Tarrif on goods and China 10% in President Trumps America, the reasons given are fentanyl and the uncontrollable immigration that's pouring in from the three countries.
If only the wet wipes in Great Britain could stand up for its… pic.twitter.com/ntwpiZONMy— Make Britain Great Again (@UkandNireland) January 31, 2025
As reported by CNBC:
> U.S. President Donald Trump is pushing ahead with long-threatened import tariffs on goods from Canada, Mexico and China.
Peter Navarro, a senior trade and manufacturing adviser in the Trump administration, confirmed that the President is imposing these tariff rates on imports from the mentioned countries. While the exact date for the new duties to take effect remains unclear, the tentative plan was for implementation on Tuesday.
Tariffs are duties imposed on foreign goods, with the costs borne by U.S. importers. Economists broadly oppose tariffs, arguing that they lead to higher prices for domestic consumers.
THE DIFFERENCE BETWEEN MEXICO AND CANADA HANDLING THE TARRIF SITUATION! https://t.co/yjSM81R2zO
— Henry Penner (@HenryPenne62297) January 29, 2025
Canada has threatened to retaliate against these measures. According to Bloomberg, “Canada is set to introduce escalating retaliatory counter-tariffs to try to turn Americans against President Donald Trump’s 25% levies on Canadian goods, a threat that’s causing the country to rethink its dependence on its southern neighbor.”
Jonathan Wilkinson, Canada’s Natural Resources Minister, stated on Friday, “You will find when we do respond, at least initially, that we will focus on tariffing American goods that actually are sold in significant quantities in Canada, and especially those for which there are readily available alternatives for Canadians.”
This is an ongoing situation, and updates will be provided as more information becomes available.
