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Hours after Trump imposed the tariffs on February 1, Trudeau said that Canada would retaliate against the United States with tariffs. [1] [7] He said that Canada would impose 25 percent tariffs on CA$30 billion (US$20.6 billion) of American exports immediately after the U.S. tariffs take effect and impose 25 percent tariffs on a further CA$125 ...
Analysis by Oxford Economics estimated that 25% tariffs implemented across all sectors and predicted retaliatory tariffs would cause Canada's GDP to fall by 2.5% by early 2026, increase its inflation rate to 7.2% by mid-2025, and increase its unemployment rate to 7.9% by the end of 2025 due to an estimated 150,000 layoffs.
Trump will impose 25% tariffs on goods from Canada and Mexico, a decision he said he hopes decreases the amount of fentanyl and migrants coming into the U.S. across their borders. The president ...
Tariffs on energy imports from Canada were set at a lower rate of 10%, a White House official said, to minimize the potential for disruptions in gasoline and home heating prices.
Mexico’s president immediately ordered retaliatory tariffs and Canada’s prime minister said the country would put matching 25% tariffs on up to $155 billion in U.S. imports.
This decision poses significant risks to the deep economic ties between the U.S. and Canada, where goods worth $3.6 billion cross the border daily. Trump's aim with the tariffs is to push Canada and Mexico to take stronger actions against migration and drug trafficking, while also supporting his "Buy American" agenda to boost the U.S. economy.
While campaigning, Trump floated this 25% tariff on Mexico he is now vowing to carry out, but only if the country would not help mitigate immigration to the U.S. southern border. He also suggested ...
President Trump signed orders this weekend imposing 25 percent tariffs on Canada and Mexico and a 10 percent tariff on China, but U.S. trade posture toward its three biggest trading partners seems ...