A tariff on imports from Canada, Mexico, and China—some of the United States’ largest trading partners—has been declared by President Donald Trump.
The executive orders signed on February 1st impose a 25 percent tariff on goods from Canada and Mexico and a 10 percent levy on imports from China. There will also be a 10% reduction in the tariff for Canadian energy resources.
In reference to fentanyl, Trump presented the tariffs as a means of “halting the flood of poisonous drugs into the United States.” The price of many different items imported from each nation, such as electronics, vegetables, apparel, and much more, will be significantly impacted by the shift.
READ MORE: As Trump Tariffs Shake Markets, Auto Titans And Nuclear Companies Are Hardest Hit
Despite Trump’s earlier claims that the tariffs will “enrich” Americans, consumers are likely to pay the highest price as a result of the penalties. Get the most recent information on Trump’s tariffs here.
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