American industries, interest groups, and consumers are bracing for the effects of new tariffs the Trump administration imposed Saturday on three key trading partners.
President Donald Trump announced “a 25% additional tariff on imports from Canada and Mexico as well as a 10% additional tariff on imports from China” to address the “national emergency” of illegal immigration and transnational drug trafficking. “Energy resources from Canada will have a lower 10% tariff,” the executive order noted.
Trump said the tariffs would remain in place until the three countries kept their “promises of halting illegal immigration and stopping poisonous fentanyl and other drugs from flowing into our country.”
The White House cited various expert opinions that tariffs boosted local production and encouraged reshoring of manufacturing jobs. It also referenced Biden…
