Posted: Friday, January 31, 2025. 2:06 pm CST.
By Zoila Palma: U.S. President Donald Trump will impose 25% tariffs on imports from Canada and Mexico, and 10% tariffs on goods from China, beginning Saturday, according to the White House.
The tariffs, aimed at increasing cooperation on immigration and fentanyl smuggling, also reflect Trump’s push to boost domestic manufacturing and raise federal revenue, AP reports.
White House Press Secretary Karoline Leavitt confirmed the tariffs but did not specify if there would be any exemptions, such as for oil imports from Canada and Mexico, which could drive up U.S. consumer prices.
The move carries risks, including potential economic disruption in sectors like energy, autos, and agriculture.
Both Canada and Mexico have prepared retaliatory tariffs, which could escalate into a broader trade conflict and harm economic growth.
Canadian Prime Minister Justin Trudeau warned the tariffs would have “disastrous consequences” for the U.S. economy, while Mexican President Claudia Sheinbaum emphasized that Mexico would defend its sovereignty and be prepared with multiple plans for any U.S. actions.
Economists predict that the tariffs could negatively impact all involved countries, including the U.S., and potentially increase illegal immigration from Mexico, undermining one of Trump’s stated goals.
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Posted: Friday, January 31, 2025. 2:06 pm CST. By Zoila Palma: U.S. President Donald Trump will impose 25% tariffs on imports from Canada and Mexico, and
The post International News: Trump to implement Tariffs on Canada, Mexico, and China starting Saturday appeared first on Belize News and Opinion on www.breakingbelizenews.com.
