The US government has officially imposed 25 percent tariffs on all imports from its top trading partners, Canada and Mexico, effective March 4, according to a White House statement. Additionally, energy imports from Canada will now be subject to a 10 percent tariff.
Earlier this year, in February, US President Donald Trump delayed the tariffs while giving Canada and Mexico 30 days to address what he described as border security issues. However, the failure of both countries to act in time led to the implementation of the tariffs.
In response, Canadian Prime Minister Justin Trudeau emphasized that Canada had worked diligently to address border security concerns, despite Canada not being the root cause of the issue. As a result, Canada plans to impose 25 percent tariffs on $30 billion worth of US goods starting on March 4, with an additional tariff on $125 billion worth of goods set to take effect in 21 days. These tariffs will remain in place until the US reverses its decision. If the tariffs are not removed, Canada is considering other non-tariff measures in consultation with its provinces and territories.
While there has been no official statement from Mexican President Claudia Sheinbaum, media reports suggest she has a "Plan B" to retaliate against the US.
In a related development, President Trump also announced that the US would double its recently introduced tariffs on China to 20 percent, effective March 4. In response, the Chinese Ministry of Finance declared that it would impose 10-15 percent tariffs on US food products starting on March 10 and also restrict exports to 15 US companies.
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