U.S. IMPOSES 25% TARIFFS ON GOODS FROM MEXICO, CANADA AND 20% ON GOODS FROM CHINA
March 4th, 2025Via: Reuters:
President Donald Trump’s new 25% tariffs on imports from Mexico and Canada took effect on Tuesday, along with a doubling of duties on Chinese goods to 20%, launching new trade conflicts with the top three U.S. trading partners.
The tariff actions, which could upend nearly $2.2 trillion in two-way annual U.S. trade, went live at 12:01 a.m. ET hours after Trump declared that all three countries had failed to do enough to stem the flow of the deadly fentanyl opioid and its precursor chemicals into the U.S.
Canada and Mexico, which have enjoyed a virtually tariff-free trading relationship with the U.S. for three decades, were poised to immediately retaliate against their longtime ally.
