The president also suggested he still plans to impose new tariffs on China but did not give any details.

Summary

Trump announced that 25% tariffs on imports from Canada and Mexico will take effect on February 1, though a decision on including oil remains pending.

He justified the move by citing undocumented migration, fentanyl trafficking, and trade deficits.

Trump also hinted at new tariffs on China.

Canada and Mexico plan retaliatory measures while seeking to address U.S. concerns.

If oil imports are taxed, it could raise costs for businesses and consumers, potentially contradicting Trump’s pledge to reduce living expenses.

  • adarza@lemmy.caEnglish
    6·
    15 hours ago

    exclude oil, and the u.s. has a trade surplus with their northern neighbor.

    so leaving oil without the extra tax, then there is not even that flimsy concept of an excuse to have the tariffs in the first place.

    • prodajvodapavel@aggregatet.orgEnglish
      41·
      12 hours ago

      flimsy concept of an excuse to have the tariffs in the first place.

      Gotta distract people while the ruling class robs them blind.