The United States just dropped a 25% tariff bomb 💣 on imports from Canada and Mexico, and our neighbors aren't taking it lying down! In what feels like the start of an intense trade showdown, both Canada and Mexico have announced bold countermeasures.
Canadian Prime Minister Justin Trudeau didn't mince words. 🇨🇦 He declared that Canada will slap a 25% tariff on US goods worth a whopping C$155 billion ($107 billion). The first wave, targeting goods worth C$30 billion, kicks in on February 4. The rest? Coming in hot within 21 days! 🔥
British Columbia's Premier David Eby chimed in with some strong feelings, saying, \"President Trump's 25 percent tariffs are a complete betrayal of the historic bond between our countries and a declaration of economic war against a trusted ally.\" Ouch! 😬
Eby isn't stopping at words. He's directing the BC Liquor Distribution Branch to immediately stop buying American liquor from certain states and is pulling top-selling brands from those states off the shelves. Talk about a power move! 🍻❌
Down south, Mexico's President Claudia Sheinbaum is also stepping into the ring. 🇲🇽 She's announced that Mexico will retaliate against the US tariffs with tariffs and other measures of its own. The details are still under wraps, but it's clear Mexico isn't backing down. 💪
The White House confirmed that these tariffs are set to go into effect \"on or after 12:01 a.m. eastern time on February 4, 2025.\" Mark your calendars, folks! 📅 Plus, there's a clause to escalate tariffs if Canada and Mexico retaliate—things could get even more heated. 🔥
The US relies heavily on imports from its top trading partners: Mexico, Canada, and China. In just the first 11 months of 2024, the US imported about $466.6 billion from Mexico, $377.2 billion from Canada, and $401.4 billion from China. 📦
This escalating situation could impact everything from the cost of your favorite gadgets to the price of beer. Stay tuned as this trade drama unfolds! 🍿
Reference(s):
cgtn.com
