New Tariff Update for Canada, Mexico and China
President Trump has posted on Truth Social his intentions to go ahead with the tariffs for Canada and Mexico, and to double the latest China 10% duty to 20%, effective March 4th. Canada and Mexico will be charged 25% with a lower 10% tariff on Canadian energy products such as oil and electricity. He cites the progress by Mexico and Canada to counter the smuggling of illicit drugs, such as fentanyl entering into the U.S. at “unacceptable levels,” was not as impressive as he had hoped. He also feels that besides the large trade imbalance with China, that the amount of fentanyl and other drugs originating from China, and transiting through our borders is unacceptable.
As further developments are announced, we will be sure to notify you all, and keep you up to date with the latest news.
