President Donald Trump established his promised tariffs against Canada, Mexico, and China on Saturday, February 1. He said Americans could feel “some pain” after they take effect, and, so far, it looks like he may be right. Within 24 hours, Canada had already responded with its own retaliatory taxes on American imports, Mexico enacted some as-yet vague and undefined “Plan B,” and China is suing the US in international court. That has the potential to be quite the economic and political headache for the Trump administration, American businesses, and consumers alike.
Canada’s Cold Shoulder
In response to the new 25% tariffs against Canadian imports (or just 10% for oil), Prime Minister Justin Trudeau has promised to implement 25% duties on billions worth of American imports beginning Tuesday, February 4, the day the US is expected to start…
