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President Trump appears set to level new tariffs on Mexico, Canada, and China

By
Published  January 31, 2025 6:12pm CST
Houston
FOX 26 Houston

Trump tariffs on Mexico, Canada: What to know

A White House spokesperson says President Trump will impose 25% tariffs on imports from Mexico and Canada, effective February 1.

The Brief

    • White House spokesperson says President Trump will impose 25% tariffs on imports from Mexico and Canada, effective February 1.
    • Trump has threatened the move to force cooperation curbing illegal immigration and the smuggling fentanyl and the chemicals that make it.
    • The announcement does not include specifics about any possible exemptions, though the president has indicated there might be some things, like oil imports, that are not included.

HOUSTON - President Donald Trump is moving forward with tariffs against several countries starting on Saturday. 

Trump tariffs on three countries

Big picture view:

Imports from Mexico and Canada are valued at more than $900 billion. 

Without restrictions, prices would rise for things like food, gas, vehicles, and commodities. 

Also, an additional 10% tariff would be imposed on Chinese imports. 

Financial observers say the move is a "classic" Trump negotiating tactic. 

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What they're saying:

"You may like it, you may hate it, but this is 'Negotiating 101'," says Houston financial strategist Lance Roberts, "If you're going to argue a position, you've got to have some leverage. You can't negotiate from a position of weakness to get an agreement that's favorable to whatever outcome you want it to be."

The Source: Wall Street Journals, Associated Press, Reuters

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