Trump tariffs: President to hit Canada, Mexico and China with tariffs
www.bbc.com
Canadian oil will be hit with a lower levy of 10%, likely by mid-February, President Trump says.

Summary

Trump announced that 25% tariffs on imports from Canada and Mexico will take effect on February 1, though a decision on including oil remains pending.

He justified the move by citing undocumented migration, fentanyl trafficking, and trade deficits.

Trump also hinted at new tariffs on China.

Canada and Mexico plan retaliatory measures while seeking to address U.S. concerns.

If oil imports are taxed, it could raise costs for businesses and consumers, potentially contradicting Trump’s pledge to reduce living expenses.

  • bradd@lemmy.worldEnglish
    115·
    1 month ago

    I do ultimately think tariffs will be good for the US. I feel bad for other countries I guess, but I think the US needs to be more productive.

    California, seen as a relatively “progressive” state, has a sales tax on everything, and pretty extreme sin taxes. A tariff is like a sales tax, and a sin tax on specific imports.