President Donald Trump has announced that he’s imposing a tariff on goods from some of the US’s biggest trade partners: Canada, Mexico, and China. Under the executive orders signed on February 1st, Canada and Mexico will face a 25 percent tariff, while goods from China will be subject to a 10 percent tax. Energy resources from Canada will also have a lower 10 percent tariff.
Trump positioned the tariffs as a way to “halt the flood of poisonous drugs into the United States,” referring to fentanyl. The change will have a big impact on the cost of a wide variety of goods imported from each country, including electronics, produce, clothing, and much more.
Though Trump previously said the tariffs will “enrich” citizens, consumers are expected to bear the brunt of the fees as they typically lead to higher prices. Here’s all the latest news on Trump’s tariffs.
- China responds to Trump’s tariffs threatening ‘corresponding countermeasures.’
- Automakers brace for ‘massive’ impact of Trump’s tariffs
- Canada will retaliate against Trump with tariffs on US goods
- Trump imposes sweeping tariffs on Canada, Mexico, and China
- Canadian officials have reportedly been notified of tariffs.
- Trump’s first round of tariffs is almost here
- Trump says he’ll put tariffs on imported chips ‘in the near future’
President Donald Trump has announced that he’s imposing a tariff on goods from some of the US’s biggest trade partners: Canada, Mexico, and China. Under the executive orders signed on February 1st, Canada and Mexico will face a 25 percent tariff, while goods from China will be subject to a 10 percent tax. Energy resources from Canada will also have a lower 10 percent tariff.
Trump positioned the tariffs as a way to “halt the flood of poisonous drugs into the United States,” referring to fentanyl. The change will have a big impact on the cost of a wide variety of goods imported from each country, including electronics, produce, clothing, and much more.
Though Trump previously said the tariffs will “enrich” citizens, consumers are expected to bear the brunt of the fees as they typically lead to higher prices. Here’s all the latest news on Trump’s tariffs.
China’s Response to Trump’s Tariffs
China has responded to Trump’s tariffs by threatening ‘corresponding countermeasures’ in retaliation.
Impact on Automakers
Automakers are bracing for the ‘massive’ impact of Trump’s tariffs on imported goods.
Canada’s Retaliation
Canada plans to retaliate against Trump with tariffs on US goods in response to the imposed tariffs.
Trump’s Tariff Announcement
Trump has imposed sweeping tariffs on Canada, Mexico, and China, affecting various industries and goods.
Canadian Officials Reaction
Canadian officials have reportedly been notified of the tariffs and are preparing to respond accordingly.
Upcoming Tariffs
Trump’s first round of tariffs is almost here, with more expected to follow, including on imported chips.
FAQs
Q: How will Trump’s tariffs impact consumers?
A: Consumers are expected to bear the brunt of the fees as they typically lead to higher prices on imported goods.
Q: What is the reasoning behind Trump’s tariffs?
A: Trump has positioned the tariffs as a way to stop the influx of harmful drugs, specifically referring to fentanyl, into the United States.
Q: How are other countries responding to Trump’s tariffs?
A: China, Canada, and Mexico are all considering or implementing countermeasures in response to Trump’s tariffs.
Credit: www.theverge.com
