7 hours Ago By Emma Roth
The US is officially imposing tariffs on Canada, Mexico, and China. President Donald Trump announced that goods imported from Mexico and Canada will face a 25 percent tariff, while goods from China will face a 10 percent tariff. There will also be a lower 10 percent tariff on oil from Canada.
In a series of posts on X announcing the tariffs, the administration claimed they were happening to “hold China, Mexico, and Canada accountable for their promises to halt the flood of poisonous drugs into the United States” while repeatedly referencing fentanyl. The tariffs are expected to have an impact on a huge swath of goods, ranging from the electronics we use every day to necessities like clothing, pharmaceuticals, and lithium batteries. With tariffs in place, the company importing the goods is the one that pays the additional fee — not the exporting country, .
These additional fees are in the form of higher prices. Tariffs were one of Trump’s major campaign promises, and he’s floated additional ones, like a tax on . (He’s also made threats against and .
) During Trump’s inauguration speech, he will “immediately begin the overhaul” of the US trade system. “Instead of taxing our citizens to enrich other countries, we will tariff and tax foreign countries to enrich our citizens.”.
