Overview

• President Trump announced 25% tariffs on goods from Canada and Mexico, set to take effect on March 4, citing fentanyl trafficking concerns.
• An additional 10% tariff on Chinese imports will also begin on March 4, following previous levies targeting the country.
• Canada and Mexico have signaled plans for retaliatory tariffs, while China has already implemented countermeasures and filed a WTO complaint.
• The European Union warned of similar retaliatory actions if the U.S. moves forward with proposed tariffs on European goods in April.
• Economists and trade experts warn that the uncertainty surrounding U.S. tariffs could disrupt global markets and increase consumer costs across industries.