Trump slaps 25% tariffs on Canadian imports, 10% on Chinese imports, says EU is next

On Saturday, February 1, 2025, U.S. President Donald Trump announced that he is imposing new tariffs on imports from Canada, Mexico, and China, citing a national emergency over fentanyl and illegal immigration. The new tariffs are set to take effect on Tuesday, February 4. The decision includes a 25% duty on Canadian and Mexican imports and an additional 10% tariff on Chinese goods, adding to the existing tariffs already in place. However, Canadian energy products will see a reduced 10% tariff, while Mexican energy imports will be subjected to the full 25% duty. A White House fact ...