Canadian and Mexican goods will face a 25% levy with Chinese imports carrying an extra 10% tariff
China, Mexico and Canada accounted for more than 40% of imports into America last year. US President Donald Trump, who has also threatened to impose tariffs against EU nations, says the new tariffs will help grown the US economy, raise tax issue and protect American jobs. However, critics, including many economists, have warned that additional costs will be passed onto American consumers, exacerbating an already acute cost of living crisis.
My colleague Lauren Aratani has done this useful explainer exploring how US consumers will be affected by the tariffs, why Trump is using them to enact his policy agenda and how other countries have responded to the US president’s announcement.
Continue reading…
Source link : https://www.theguardian.com/us-news/live/2025/feb/02/canada-mexico-china-donald-trump-trade-tariffs-us-politics-live
Author : Yohannes Lowe
Publish date : 2025-02-02 09:07:00
Copyright for syndicated content belongs to the linked Source.
