A War of Tariffs, A Look at the Country’s Cash Register
Trump: Nothing Canada, Mexico or China can do to delay Feb 1 tariffs
Trump has been threatening to levy tariffs on a lot of countries and on a lot of things for weeks. Today however Trump disclosed that tariffs would be levied on Canada, Mexico, and China, saying they would be imposed on February 1st and remain in place until the countries did more to stem the flow of both migrants and fentanyl over the U.S. border.
Speaking to reporters in the Oval Office as he was signing executive orders, Trump said he understood the duties could result in higher costs being passed on to consumers and acknowledged his actions may cause disruptions in the short term. Read more at Reuters.
The White House has issued a fact sheet outlining the terms and conditions that attach to the tariffs – that the nations targeted need to halt illegal immigration from their countries and stop the fentanyl and drug trafficking in general that is linked to their countries:
“ADDRESSING AN EMERGENCY SITUATION: The extraordinary threat posed by illegal aliens and drugs, including deadly fentanyl, constitutes a national emergency under the International Emergency Economic Powers Act (IEEPA).
Until the crisis is alleviated, President Donald J. Trump is implementing a 25% additional tariff on imports from Canada and Mexico and a 10% additional tariff on imports from China. Energy resources from Canada will have a lower 10% tariff.”1
Musk aides gain access to sensitive Treasury Department payment system
Read the story online at the Washington Post
- The White House. “Fact Sheet: President Donald J. Trump Imposes Tariffs on Imports From Canada, Mexico and China.” February 1, 2025. ↩︎
