US President Donald Trump announced on Monday that the previously postponed 25% tariffs on imports from Canada and Mexico will take effect on Tuesday. This move has reignited concerns about a potential trade war.
Trump revealed the tariffs during a press conference at the White House, stating that the primary goal is to pressure Canada and Mexico into intensifying their efforts to combat fentanyl trafficking into the US.¹
The tariffs were initially announced on February 1, when Trump signed an executive order imposing a 25% tariff on imports from both countries. The move was met with criticism from Canadian Prime Minister Justin Trudeau and Mexican President Claudia Sheinbaum, who threatened economic retaliation.
The tariffs are expected to have
US president say 25% tariffs on Canada, Mexico to start on Tuesday
significant implications for US trade relations with its neighbors. The Peterson Institute for International Economics estimates that if the tariffs are maintained through 2029, the US gross domestic product could decrease by $200 billion.
As tensions rise, the international community is closely watching the situation, with many experts warning of potential economic consequences.
