The president also suggested he still plans to impose new tariffs on China but did not give any details.

Summary

Trump announced that 25% tariffs on imports from Canada and Mexico will take effect on February 1, though a decision on including oil remains pending.

He justified the move by citing undocumented migration, fentanyl trafficking, and trade deficits.

Trump also hinted at new tariffs on China.

Canada and Mexico plan retaliatory measures while seeking to address U.S. concerns.

If oil imports are taxed, it could raise costs for businesses and consumers, potentially contradicting Trump’s pledge to reduce living expenses.

  • @[email protected]English
    11•1 month ago

    But wages will go up because more stuff will be made in the US! /S (Basically my father’s argument)

    • @T00l_shedEnglish
      10•1 month ago

      Narrator: no they won’t

      • @CitizenKongEnglish
        3•30 days ago

        Fun fact: Under Hitler, while there was an economic boom (due to production switching to war preparation), wages fell on Great Depression levels and workers had to work a lot more hours. Germany was also deeply in debt, because most of this was financed by crazy lending from other countries, which Hitler had no intention of paying back.

        Also, the ones that were profiting the most off of this were oligarchs.