Saturday, President Donald Trump announced additional tariffs on China, Canada, and Mexico.
The Canadian and Mexican governments will certainly survive the episode. China’s, on the other hand, might not.
Over the weekend, Trump made good on campaign promises. “Today, I have implemented a 25% Tariff on Imports from Mexico and Canada (10% on Canadian Energy), and a 10% additional Tariff on China,” he announced on X on Saturday afternoon. “This was done through the International Emergency Economic Powers Act (IEEPA) because of the major threat of illegal aliens and deadly drugs killing our Citizens, including fentanyl.”
Canada immediately retaliated with tariffs of its own, but late Monday, just hours before the American tariffs were to go into effect, Prime Minister Justin Trudeau came to terms with Trump, agreeing to appoint a “Fentanyl Czar” and adopting other measures.
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