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US Tariffs on Canada and Mexico Take Effect as China Takes Aim at US Farm Exports
The Statesman Siliguri
|March 05, 2025
President Donald Trump's long-threatened tariffs against Canada and Mexico went into effect Tuesday, putting global markets on edge and setting up costly retaliations by the United States' North American allies.
Starting just past midnight, imports from Canada and Mexico are now to be taxed at 25 per cent, with Canadian energy products subject to 10 per cent import duties.
The 10 per cent tariff that Trump placed on Chinese imports in February was doubled to 20 per cent, and Beijing retaliated Tuesday with tariffs of up to 15 per cent on a wide array of American farm exports. It also expanded the number of American companies subject to export controls and other restrictions by about two dozen.
Canadian Prime Minister Justin Trudeau said his country would slap tariffs on more than $100 billion of American goods over the course of 21 days. Mexico didn't immediately detail any retaliatory measures.
This story is from the March 05, 2025 edition of The Statesman Siliguri.
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