President Trump Announces Tariffs On Canada, Mexico And China, And The World Holds Its Breath

2025-02-03 10:55:00 ET

Summary

• Late on February 1, President Trump signed three executive orders, announcing new tariffs on Canada, Mexico, and China.
• The tariffs include 25% on imports from Canada and Mexico, and 10% on imports from China. Energy products from Canada, crucial for US crude oil imports, are also affected, but "only" by a 10% tariff.
• Almost half of everything the US imports will be affected by higher tariffs, potentially disrupting supply chains and impacting the US, Canadian, and Mexican economies significantly.
• If Mexico, Canada and China push through with the announced retaliation, the global economy would see an unprecedented escalation of trade tensions.

By Inga Fechner , Carsten Brzeski , James Knightley , Lynn Song

Trump imposes new tariffs on Canada, Mexico, and China

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