- Trump’s tariffs on Canada, Mexico, and China are now in effect.
- The Trump administration is imposing a 25% tariff on imports from Canada and Mexico.
- Trump doubled the US’s additional tariffs on China from 10% to 20%.
President Donald Trump’s new tariffs on Mexico, Canada, and China are here.
Tariffs of 25% on imports from Canada and Mexico went into effect on Tuesday. Energy imports from Canada are subject to a lower 10% tariff.
Trump had initially announced tariffs on both countries in early February, but he reached a deal with the leaders of Mexico and Canada to delay the tariffs by a month.
Also on Tuesday, Trump doubled the tariff on goods from China from 10% to 20% in an effort to push for strengthened drug policy, particularly surrounding the flow of fentanyl into the US.
The president’s initial executive order placing tariffs on the three countries said the tariffs would remain in place “until the crisis is alleviated,” referring to border and drug policy.
Responses from China, Mexico, and Canada
Beijing retaliated swiftly against Trump’s additional tariffs, announcing that China will impose additional tariffs of 10% to 15% on some US imports starting March 10.
They include 10% tariffs on US soybeans, pork, and beef imports, as well as 15% tariffs on chicken and cotton imports, according to the Commerce Ministry.
US farm imports into China were also targeted by Beijing when Trump started the trade war in his first term.
Beijing is also banning Illumina — a California-based biotech firm — from selling gene sequencing products in China to “safeguard national sovereignty, security and development interests,” the country’s Commerce Ministry announced separately.
Beijing also added 10 US companies onto a list of unreliable entities and imposed dual-use item export controls on 15 US entities.
Canada’s prime minister, Justin Trudeau, said in a statement earlier on Monday evening that if the White House followed through, his administration would retaliate with 25% tariffs on $155 billion of US goods.
“Canada will not let this unjustified decision go unanswered,” Trudeau said.
The statement said Ottawa plans to roll out the retaliatory measures over 21 days, with immediate tariffs on an initial $30 billion tranche of US goods. Trudeau added that his government is discussing other “non-tariff measures.”
Mexico’s president, Claudia Sheinbaum, said on Monday that she would wait to see the scale of the new tariffs before announcing any retaliation.
The US imports a range of key goods from Canada, Mexico, and China, including crude oil, car parts, and electronics. Some companies, like Walmart, have said they will raise prices if tariffs go into effect.
Trump wrote on Truth Social in February that Americans will feel “some pain” with tariffs, but “it will all be worth the price that must be paid.”
The White House did not immediately respond to BI’s request for comment.
This is a developing story. Please check back for updates.
Read the full article here
