Big changes are afoot in the U.S. trade landscape! 🇺🇸 President Donald Trump announced that starting tomorrow, March 4, a 25% tariff will be applied to goods imported from Mexico and Canada. 🛃
\"Very importantly, tomorrow, tariffs, 25 percent on Canada and 25 percent on Mexico, and that'll start,\" Trump declared at the White House.
He emphasized, \"What they have to do is build their car plants, frankly, and other things in the United States, in which case they have no tariffs.\"
Additionally, reciprocal tariffs are set to kick in on April 2. 📅
This move follows Trump’s executive order signed on February 1, which imposed a 25% tariff on goods from Mexico and Canada, with an extra 10% on Canadian energy products. However, on February 3, the start date was delayed to March 4 to allow more time for negotiations.
In the wake of these announcements, U.S. stocks have taken a downturn, reflecting investor concerns over the potential economic impact of these new tariffs. 📉
Reference(s):
cgtn.com
