Trump Poised to Announce Tariffs on Canada, Mexico, and China

The proposed tariffs, set to take effect February 1, aim to address trade imbalances, immigration, and drug trafficking concerns.

President Trump plans to impose 25% tariffs on imports from Canada and Mexico, and 10% on goods from China, citing trade deficits and border control issues.
The tariffs are intended to pressure Canada and Mexico to curb fentanyl trafficking and illegal immigration into the U.S.
Experts warn the tariffs could increase consumer prices in the U.S., potentially raising inflation by 3-4%, while disrupting key industries like energy, lumber, and seafood.
Canada and Mexico have prepared retaliatory measures, including targeted tariffs on U.S. exports, raising fears of a trade war.
Uncertainty surrounds the scope and timing of the tariffs, with potential exemptions for certain goods like oil still under consideration.