- US Tariffs Announced: President Trump signed an executive order imposing tariffs on goods from Canada, Mexico, and China.
- Tariff Rates: Tariffs are set at 25% for goods from Mexico and Canada, and 10% for goods from China.
- Effective Date: Tariffs will take effect on February 4 at 12:01 a.m. Eastern Time.
- Country Reactions:
- Mexico: President Claudia Sheinbaum instructed Economy Minister Marcelo Ebrard to implement protective measures.
- Canada: Prime Minister Justin Trudeau warned about the limitations on critical goods for security.
- China: Expressed strong dissatisfaction and plans to file a lawsuit with the WTO.
Washington, D.C. (Agencies): In a significant move, US President Donald Trump has signed an executive order imposing tariffs on goods from Canada, Mexico, and China. The tariffs are set at 25% for goods from Mexico and Canada, and 10% for goods from China. The executive order includes a provision to increase these tariffs if any country imposes retaliatory measures against the US.
The tariffs will apply to all goods from Canada, except for energy products, which will face a 10% tariff. The new tariffs will take effect on February 4 at 12:01 a.m. Eastern Time. Goods already in transit before this time will not be subject to the additional tariffs.
In response, Mexican President Claudia Sheinbaum instructed Economy Minister Marcelo Ebrard to implement “tariff and non-tariff measures” to protect Mexico’s interests. Canadian Prime Minister Justin Trudeau warned that the tariffs would limit Washington’s access to critical goods for security, including uranium, steel, and aluminum.
China has expressed strong dissatisfaction with the US tariffs, stating that trade and tariff wars have no winners. The Chinese Commerce Ministry announced plans to file a lawsuit with the World Trade Organization (WTO) and take appropriate countermeasures.
The introduction of these tariffs has sparked concerns about potential global trade tensions and their impact on the economies of the affected countries.