The president also suggested he still plans to impose new tariffs on China but did not give any details.

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.

  • kreskin@lemmy.worldEnglish
    53·
    11 hours ago

    Its Americans trying to buy food who will be hit with a 25% tarriff, not Mexico. And Mexican farmers wont see a dime of that revenue, if anything they will see a decline in revenue as people stop buying the products. It all goes to the US treasury.

    • wisely@feddit.orgEnglish
      13·
      8 hours ago

      Yes and then it can be funneled into the pockets of the person who is calling for the tariffs.

      It’s weird that everyone is taking the premise of making america great again with tariffs seriously. The reason it doesn’t make sense is because that’s just a distraction to the fact that it’s for personal profit like with everything else.

    • protist@mander.xyzEnglish
      19·
      11 hours ago

      I live in Texas, and it’s hard to overstate how much of our produce is imported from Mexico. This would be an almost immediate 25% price hike on food that basically can’t be grown at scale here because we don’t have Mexico’s climate. Surely he’d exempt food from whatever he’s about to do. Right…?

      • puntinoblue@lemmy.mlEnglish
        1·
        2 hours ago

        I expect food would be exempt as you don’t want an angry, hungry, volatile population. Bread and Circuses

      • adarza@lemmy.caEnglish
        5·
        8 hours ago

        it’s a 25% import tax paid by the importer. when their margins are added, and then the distributors’ on top of their higher costs, at each step of the distribution chain… it’ll be a fair bit more than ‘just’ +25% once product reaches the store shelves.

      • chingadera@lemmy.worldEnglish
        7·
        9 hours ago

        Will it benefit the average person? If the answer is yes, you can take it off the list.

        Even if it benefits the rich, it would have to exponentially hurt the average American more for it to be considered. They’ve already turned their nose up at studies that have proven better working conditions, pay, and benefits would make them richer in the long run because it takes a little bit of control away from them. These people are sick, and the only thing that is going to correct it at this point is a violent uprising.