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.

  • @CitizenKongEnglish
    3•5 hours 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.