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.
Yeah, as a Canadian I’m down with strengthening our trade with Mexico.
Problem there might be transport. You need to do it without crossing a US border.
How much shipping goes between Canada and Mexico?
Maybe the free trade would allow trains and the like to go right through the USA without selling anything?
Why would the US want to do that?