Trump tariffs: What they mean for your wallet and the economy
President Donald Trump has announced the imposition of new tariffs on imports from Canada, Mexico, and China, aiming to address concerns over illegal immigration and drug trafficking. The tariffs include a 25% levy on Canadian and Mexican imports and a 10% tariff on Chinese goods. Energy resources from Canada will have a lower 10% tariff. Trump posted about the tariffs on Feb. 2, stating, “Today, I have implemented a 25% tariff on imports from Mexico and Canada (10% on Canadian energy), and a 10% additional tariff on China. This was done through the International Emergency Economics Powers Act (IEEPA) because
February 25, 2025