America imposed 25% tariff on Canada and Mexico from today on Canada and Mexico

Donlad Trump Tariff Imposed: Donald Trump has implemented tariffs on Canada and Mexico from Saturday (1 February) as per his promise. The White House press secretary Caroline Lewitt issued a statement about this, saying that from February 1, 25 % tariffs will be applicable on Canada and Mexico. Apart from this, 10% tariffs will be applicable to China. This policy has been implemented to promote US domestic manufacturing and control illegal immigration and drug trafficking. However, this can affect American consumers as expensive imports can increase goods prices.

Many important reasons are being given behind this policy of Donald Trump. To encourage American companies, the Trump administration wants to protect domestic industries from import competition. This can prove to be more correct for American companies to construct local levels. Apart from this, 10% tariffs on China will be imposed separately above the already existing import, which will further affect China’s economy. While justifying his decision to put tariffs on Canada and Mexico, Trump has claimed that the step will force Mexico and Canada to stop smuggling of illegal migration and fentinel (a dangerous drug).

Impact on American consumers
Inflation is already increasing in the US, and these new tariffs may cause more burden on consumers. Let us know that the US imports 4.6 million barrels of oil from Canada and 563,000 barrels from Mexico per day. However, petrol and diesel can be expensive with the implementation of tariffs.

Products prices rise
Electronics, clothes, and other consumer goods imported from China will become expensive. American companies may face the problem of increasing production costs. On the other hand, in view of Trump’s decision, the Canadian government has said that if the Trump administration implements the tariff, Canada will also give a proper answer. On the matter related to the tariff, President Claudia Shanbom of Mexico said that he has Plan A, Plan B and Plan C, so that this policy of America can be responded to. Let us know that Mexico had earlier adopted a strategy to pressurize the American tariff through business agreements.

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