Trump’s Tariffs on China, Canada and Mexico Take Effect
President Donald Trump’s new tariffs on China, Canada and Mexico took effect at midnight Tuesday morning, increasing the taxes that U.S. importers will pay on certain goods when they enter the country.
Effective Tuesday, U.S. imports from China, the third-largest U.S. trading partner, will be subject to a new 10% tariff on top of the initial 10% tariff he imposed on Chinese goods last month.
Tariffs on imported goods from Canada and Mexico – America’s two largest bilateral trading partners, according to Census Bureau data – are also set to rise, with 25% tariffs levied on all imports from the two countries. The tariffs include a carve-out for a lower 10% tariff on Canadian oil imports.
President Trump was asked on Monday whether there was room left for any room left for Canada or Mexico to make a deal to avoid tariffs and he replied, “No room left for Mexico or for Canada. No, the tariffs, you know, they’re all set. They go into effect tomorrow.”
Shortly after taking office in January, Trump announced he would impose tariffs on the three countries and cited the flows of illegal fentanyl shipments across the Mexican and Canadian borders, as well as precursor chemicals for fentanyl shipped from China. He cited authority under the International Emergency Economic Powers Act (IEEPA). (Read more from “Trump’s Tariffs on China, Canada and Mexico Take Effect” HERE)
