President Donald Trump confirmed Thursday that 25 percent tariffs on Canadian and Mexican imports will go into effect on March 4, alongside a 10 percent tariff increase on Chinese goods. The decision, aimed at curbing fentanyl trafficking, follows a one-month delay granted after Mexico and Canada took initial steps to address drug smuggling.
“Drugs are still pouring into our country from Mexico and Canada at very high and unacceptable levels,” Trump wrote on Truth Social, reiterating that China plays a major role in fentanyl production.
Trump’s move has raised economic concerns, with experts warning that the tariffs could harm all three North American economies by raising costs for businesses and consumers. China has already retaliated with its own tariffs on U.S. goods, and further trade tensions could escalate.
The president has also proposed reciprocal tariffs on all nations that tax U.S. imports, set to begin in April, and has suggested targeting automobiles, lumber, and pharmaceuticals. While Trump acknowledged higher prices could result, he argues tariffs will push companies to bring manufacturing back to the U.S.
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