President Donald Trump is implementing 25% tariffs on goods imported from Mexico and Canada, along with a 10% duty on Chinese imports. Energy resources from Canada will face a lower 10% tariff. The tariffs are intended to address immigration and drug trade concerns. The U.S. trades approximately $1.6 trillion annually with these countries. Economists express worries that the tariffs could reignite inflation.
President Donald Trump is imposing 25% tariffs on imports from Mexico and Canada , as well as a 10% duty on China. Energy resources from Canada will have a lower 10% tariff.
Also, under the new order, the tariffs would escalate if the countries retaliate in any way against the U.S. In the Oval Office on Friday, Trump said his decision to slap tariffs on goods from Canada, Mexico and China is"pure economic." United Auto Workers President Shawn Fain said the union supports aggressive tariffs to protect the interest of workers, not when used as foreign policy tools that use"factory workers as pawns."
TARIFFS MEXICO CANADA CHINA TRUMP IMMIGRATION DRUG TRADE ECONOMY INFLATION
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