President Trump confirms 25% tariffs on Canada and Mexico

SOURCE www.breitbart.com
President Trump confirmed 25% tariffs on Canada and Mexico during a press conference. He urged car manufacturers in Canada and Mexico to move to the U.S. to avoid tariffs. The tariffs were initially set for February 4 but were paused for four weeks. The tariffs on China went into effect. Trump cited the fentanyl crisis as the reason behind the tariffs.

Key Points

  • 25% tariffs on Canada and Mexico confirmed by President Trump
  • Tariffs initially set for February 4 but were paused for four weeks
  • Tariffs on China went into effect
  • Fentanyl crisis cited as a reason for the tariffs

Pros

  • Protecting American markets and industries
  • Addressing the fentanyl crisis

Cons

  • Potential negative impact on trade relationships with Canada and Mexico
  • Possibility of retaliatory tariffs