Starting just past midnight Tuesday, imports from Canada and Mexico are now taxed at 25%, with Canadian energy products getting tariffed at 10%.
In a rare bipartisan move, two senators have introduced legislation in the latest attempt to fight the flow of fentanyl and its precursors into the U.S. from China, Mexico and through other borders
About 38% of U.S. imports from Canada fall under the USMCA ‒ a free trade deal Trump signed in 2019 ‒ meaning about 62% of goods from Canada will still be subject to tariffs, the Trump White House said. About 50% of imports from Mexico fall under the agreement, so about half of Mexican imports will be subject to the tariffs.
President Trump signed executive orders suspending new tariffs on many imports from Mexico and Canada, two days after he imposed sweeping levies of 25 percent on two of America’s closest economic partners.
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