Reported about 8 hours ago
President Trump confirmed the implementation of new tariffs of 25% on Canada and Mexico and 10% on China, starting February 4, 2025. These tariffs aim to address issues related to fentanyl and illegal migration, and are expected to prompt retaliatory actions from the affected countries. Economists warn of potential significant economic impacts, including a projected decline in U.S. GDP and diminished purchasing power for families. The decision follows Trump's use of the International Emergency Economic Powers Act, potentially reigniting trade tensions.
Source: YAHOO