Overview

• Donald Trump announced that 25% tariffs on imports from Mexico and Canada will take effect on March 4, citing insufficient efforts to curb drug smuggling and illegal migration.
• The U.S. will impose additional tariffs on agricultural imports starting April 2, though details on specific products and countries remain unclear.
• Trump also introduced 'reciprocal tariffs,' matching trade barriers imposed by other nations, to be enacted around April 2.
• Canada and Mexico have prepared retaliatory measures, with Canada planning tariffs worth $155 billion and Mexico indicating readiness for multiple contingency plans.
• The announcement coincided with a $100 billion investment pledge from Taiwanese chipmaker TSMC in the U.S., marking a significant expansion of domestic semiconductor production.