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.

  • vividspecter@lemm.eeEnglish
    271·
    11 hours ago

    Plenty of regular, stupid people have been convinced that a worse deal is better if they’re making someone domestic richer instead of someone foreign.

    No, regular people don’t understand how tariffs work at all. They literally think that Canada, Mexico, and China are the ones that pay the tariffs.