INSUBCONTINENT EXCLUSIVE:
President Donald Trump has unveiled a plan to impose 25% tariffs on Canadian and Mexican imports starting February 1, 2025
This move could reshape North American trade dynamics and impact various economic sectors.Trump justifies the tariffs as a measure to combat
illegal immigration and drug trafficking
He argues that Canada and Mexico have not done enough to address these issues
The president also aims to boost American manufacturing and generate revenue for tax cuts.The proposed tariffs would affect approximately
$900 billion worth of goods from Canada and Mexico
This represents a significant portion of U.S
imports and could disrupt industries like automotive manufacturing.Economic experts warn of potential consequences
Consumer prices may rise, with new car costs potentially increasing by $3,000
Some predict the tariffs could boost inflation by 0.4 percentage points in 2025.Both Canada and Mexico have threatened retaliatory measures
Canada has prepared a list of $105 billion worth of U.S
goods for potential counter-tariffs
(Photo Internet reproduction)The tariffs may violate the United States-Mexico-Canada Agreement (USMCA), which governs $1.8 trillion in
and reduce dependence on foreign goods
Critics contend that tariffs often harm domestic businesses and consumers more than they help.The president has also mentioned imposing
tariffs on global imports and Chinese products
These proposals have caused concern in international markets.As the February 1 deadline approaches, many hope for negotiations to prevent a
The outcome could significantly influence North American economic relations in the coming years.
