President Trump will implement massive 25% tariffs on Canadian and Mexican imports and an additional 10% tariff on Chinese products Saturday.
Trump will impose 25% tariffs on imports from Canada and Mexico and 10% on goods from China, following a pledge he made after winning the White House.
WASHINGTON: US President Donald Trump on Saturday (Feb 1) will implement tariffs of 25 per cent on Canadian and Mexican imports and 10 per cent on Chinese goods with immediate effect, White House spokesperson Karoline Leavitt said on Friday.
US President Donald Trump will impose tariffs on Saturday of 25% on Mexico, 25% on Canada and 10% on China on 1 February, says the White House. But Trump said on Friday that Canadian oil would be hit with lower tariffs of 10%, which could take effect later, on 18 February.
Americans may see higher prices and disruptions in the agricultural, auto, energy and lumber sectors, among others. One example, experts give, is the cost of new car going up possibly thousands of dollars. The U.S. does about $1.6 trillion in annual business with Canada, Mexico and China.
U.S. President Donald Trump is expected to sign an order on Saturday imposing hefty new tariffs of 25% on goods from Mexico and Canada and 10% on imports from China, potentially disrupting more than $2.
Trump’s new tariffs on Canada, Mexico, and China are set to take effect on February 1. Canada and Mexico face a 25% tariff, while China is only getting a 10% tariff. America’s neighbors promise retaliation,
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Canada, China, and Mexico are the United States' three largest trading partners. In 2023, the last full year for which data are available, the U.S. imported $475 billion of goods from Mexico, $426 billion from China, and $418 billion from Canada.
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New tariffs on goods from Mexico, Canada, and China will begin tomorrow, potentially impacting prices and trade relations.