Trump says Canada and Mexico to be hit with 25% tariffs on Saturday
Trump says Canada and Mexico to be hit with 25% tariffs on Saturday
Canadian oil will be hit with a lower levy of 10%, likely by mid-February, President Trump says.
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.
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If oil is excluded the truly boss move on Canada & Mexico's part would just be to introduce a 25% export premium on those products while the tariffs are in effect.
Canada's boss move is to remove the intellectual property laws that the US asked for and let Canadian companies and consumers thrive again.
This would be beautiful. I remember when there were mod-chip stores beside internet cafes, where i could bring my xbox and pay to have a chip and a hard drive installed that let me copy any game i wanted from a rented disk or downloaded off the internet right onto the console. I still have that console and pulled it out during quarantine to make use of the huge library of games on the hard drive. Having this sort of freedom for all types of goods and electronics would be incredible, but i doubt it will ever happen.
This is a really good read. Thank you.
I really like this idea.
Keep going higher, i bet Canada imports more from US than exports.
Exactly, clearly they'll still pay for it if it's important enough to exempt. In Canada's case we could give Alberta the extra revenue just so they won't get too cranky.