Search results
Results From The WOW.Com Content Network
President Donald Trump said Friday that a first round of tariffs on Canada, Mexico, and China will begin on his self-imposed deadline Feb. 1 but that some duties on oil and gas may be limited.
Trump had initially planned a 25% tariff on all goods from Canada and Mexico but cut the Canadian oil tariff in an effort to ease the impact on energy prices, the officials said.
The tariffs are set to come into force on Tuesday after the new US president signed a trio of executive orders. He claimed the measures are designed to stop the flow of drugs and immigrants from ...
Trump signed orders on Saturday evening, imposing 25% tariffs on imports from Mexico and Canada (though Canadian energy faces a lower tariff of 10%) and 10% tariffs on goods from China.
The tariffs on Canada were also paused a short time later. Mr. Trump has also floated the possibility of additional tariffs, such as an across-the-board duty of 10% on all goods imported into the U.S.
EY chief economist Greg Daco estimates US GDP would contract by 1.5% in 2025 and 2.1% in 2026 if the tariffs kick in as they would "dampen" consumer spending and business investment. Inflation ...
Tariffs act much like a sales tax, say economists, so that Americans end up paying higher prices if they want to continue purchasing imported goods from countries subject to the tariff. The U.S ...
Trump on Feb. 3 agreed to a 30-day pause on his administration's tariffs on Canadian and Mexican imports. Canadian Prime Minister Justin Trudeau and Mexican President Claudia Sheinbaum said they'd ...