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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I can't wait for mainstream business media to attempt to explain this rationally while keeping a straight face AND still bootlicking at the same time.
I don't envy that job.
It's not just the media that loves tariffs.
Plenty of regular, stupid people have been convinced that a worse deal is better if they're making someone domestic richer instead of someone foreign.
The domestic aristocracy doesn't care about America, or else they would take a hit to their profits to provide Americans a better deal.
Plenty of regular, stupid people have been convinced that a worse deal is better if they’re making someone domestic richer instead of someone foreign.
No, regular people don't understand how tariffs work at all. They literally think that Canada, Mexico, and China are the ones that pay the tariffs.