Trump Announces New Tariffs Targeting Canada, Mexico, and China

The tariffs, set to begin February 1, aim to address trade imbalances and fentanyl trafficking, with potential economic repercussions for all parties involved.

President Donald Trump has confirmed tariffs of 25% on Canadian and Mexican imports and 10% on Chinese goods, citing trade deficits and fentanyl-related concerns.
The tariffs include key goods like oil, steel, semiconductors, and other materials, with Canadian oil potentially taxed at a reduced rate of 10%.
Trump has hinted at extending tariffs to the European Union and imposing 100% duties on BRICS nations if they move away from the U.S. dollar in global trade.
Economic analysts predict significant impacts, with potential recessions in Mexico and Canada and a slowdown in U.S. growth by 1.2 percentage points.
Canada and Mexico, both part of a free trade agreement with the U.S., have prepared countermeasures, while ongoing discussions with the Trump administration continue.

Courrier International