Trump announced new tariffs on Canada, Mexico and Chinese products: will take effect on February 1st

President Donald Trump It has been confirmed that the United States will impose new tariffs on imports of Canada, Mexico and China. The tariffs that will take effect on Saturday have caused ripples in the financial market and caused people’s concerns about economic impact.

what happened: Trump announced on Friday that he will be 25 % of new tariffs on Mexico and Canada, as well as 10 % of products from China. According to Reuters, these tariffs will take effect on Saturday.

Trump mentioned the potential exception of Petroleum in Canada, which will face 10 % tariffs, not 25 %. However, he hinted that by mid -February, tariffs on petroleum and natural gas were more extensive, resulting in high oil prices.

He emphasized that these measures aims to curb the flow of immigrants and fentanyl on the US border.

In the oval office, Trump acknowledged potential short -term interference and higher consumer costs. He refuted the idea of ​​delaying tariffs and said, “No, no. No, no.”

Trump also denied the use of tariff threats as a negotiation tool and asserted: “This is what we are doing. We may increase it very much, whether we will see its condition,” according to the report.

The financial market has experienced fluctuations, and as the Canadian dollar and Mexican pizza weakened, and the US Treasury bond yields have risen. Karoline LeavittThe report said that the White House spokesman confirmed the implementation of tariffs on Saturday and had further details.

Why is it important: The decision to collect tariffs on major trading partners such as Canada, Mexico, and China is part of solving issues such as illegal immigration and drug trafficking (especially fentanyl).

According to earlier reports, the White House has confirmed these tariffs and is expected to have a significant impact on the US economy.

Tariffs follow Trump’s series of threats and confirmations that these threats will bring potential economic interruption and rising daily commodity costs. The United States has imported a large number of goods from these countries. As far as imports are concerned, Mexico is the largest trading partner.

In addition, Doug Ford, the Prime Minister of Ontario, threatened economic retaliation in the situation of Canada, indicating that the situation of trade tensions may be further upgraded.

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Disclaimer: This content was partially produced with the help of AI tools, and was edited by Benzinga for review and release.

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