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
    1•6 hours ago

    Those things will still have impact on consumer prices though. Agricultural vehicles costing more will increase domestically produced food prices (didn’t John Dear just move production there). Oil costing more increases transport costs on everything, but at least could be sourced from elsewhere.

    I don’t really see how exceptions could be made to protect consumers without undercutting the whole thing. I expect to be on everything or nothing.

    • chingaderaEnglish
      1•6 hours ago

      100% agreed.

      Capitalism is designed to pass the buck to us. That’s just how it works. It might take a little longer if it is through the production pipeline like the examples above, but it’s still gonna fuck us.