Countdown Panels Kenny Polcari and Simeon Hyman analyze how markets respond to Canadian and Mexico tariffs.
President Donald Trump New tariffs on China, Canada and Mexico are being implemented at midnight on Tuesday morning and raise the taxes that US importers pay for specific goods when entering the country.
Effective Tuesday, US imports from China, the third US trade partner, will be exposed to a new 10 % tariff on top of the first 10 % tariff that it imposed on Chinese goods last month.
Tariff of imported goods From Canada and Mexico – According to the census data from the census, two US bilateral business partners have also increased, with 25 % tariffs on all imports from the two countries. Tariffs include an engraving for 10 % low tariffs in Canadian oil imports.
On Monday, President Trump was asked if there was a place for any room left for Canada or Mexico to deal with tariffs, and he replied, “No room left for Mexico or Canada. No, tariffs, you know, they are all set up tomorrow.”
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The 25 % tariff of President Donald Trump was implemented on Tuesday's imports of Canada and Mexico, just as the extra 10 % tariff on Chinese goods was also carried out. (Andrew Harnic / Giti Pictures / Giti Pictures)
Shortly after office in January, Trump announced that it would impose tariffs on three countries, citing the flow of illegal cargo of Fentanyl on the Mexican and Canadian borders, as well as leading chemicals for Fentanyl transported from China. He pointed to authority under the International Law on Emergency Economic Power (IEPA).
While China's tariffs According to the plan, the president postponed Canadian and Mexico's tariffs for a month after the two countries announced the border security measures.
“You just realized, a large amount of Fentanyl has been thrown from Mexico to our country, and as you know, it goes from China to Mexico and goes to Canada. And China also had 10 % extra, so it is 10 plus 10. It comes through Canada and comes from Mexico, and this is a very important point:
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US agricultural products will face retaliatory tariffs imposed by US business partners. (Bin Brewer / Bloomberg through Getty Images / Getty Images)
US business partners have previously announced that they retaliate through their tariffs on US exports, as well as potential non -tariff trade barriers to US firms.
Canada has announced that it will impose 25 % tariffs on a wide range of American exports, including machinery, automotive parts, garment products, alcohol and tobacco, sports equipment, plastic products, building materials, timber, agricultural products, supplies, furniture, chemicals and more.
It also plans additional tariffs for other US -made products that are expected to include Car, truckBuses, Electric Vehicles (EV), recreational vehicles, steel and aluminum products, fruits and vegetables, beef, pork, dairy and more.
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The US automotive industry is expected to face retaliatory tariffs for potential automotive and potential vehicles. (Photographer: Emily Elkin / Bloomberg via Giti Pictures / Giti Pictures)
Mexican government In February, he announced that it was planning retaliatory tariffs that would implement if Trump imposes tariffs in Mexico, though it did not specify these measures at the time. Reuters reports that potential tariffs can range from 5 % to 20 % in pork, cheese, steel and aluminum production.
China retaliated by imposing 15 % tariffs against initial tariffs US Energy ExportIncluding coal, natural gas and oil; As well as 10 % tariffs on manufactured goods, including trucks and agricultural machinery, the Brookings Institute analyzed.
Expected newly imposed tariffs to create more retribution than China because the AP reported that the Chinese government is being tariffs for us Export of agriculture and food products As goals
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In Analysis by Tax Foundation The fact that tariffs imposed on imports from China reduces long -term GDP by 0.1 %, while Canadian and Mexican goods tariffs are more likely to hit economic production and reduce GDP 0.3 %. These figures are before the retribution by those countries against American products.
The United States has imported $ 292 billion from Canada in 2024 as well as $ 120 billion in energy products. Imports from Mexico last year amounted to $ 504 billion, while people from China were shipped to $ 430 billion plus additional imports using the “de minimis” hole.