AsianFin -- U.S. President Donald Trump is poised to impose new tariffs on Canada and Mexico while doubling existing duties on China, marking a significant escalation in his efforts to reshape U.S. trade policy. The measures, set to take effect Tuesday, would impact roughly $1.5 trillion in annual imports.
Under the plan, all imports from Canada and Mexico would face a 25% tariff, with the exception of Canadian energy products, which would be subject to a 10% levy. Meanwhile, tariffs on Chinese imports would double to 20%.
Though the tariffs could still be delayed—previous measures targeting Canada and Mexico have already faced postponements—any reprieve is expected to be temporary. Additional Trump-era trade levies are scheduled to roll out in April.
Trump has framed the tariffs as a means to pressure neighboring countries into tightening border security, particularly in curbing the flow of migrants and fentanyl. Commerce Secretary Howard Lutnick acknowledged Sunday that while both Canada and Mexico have made efforts to address border concerns, fentanyl smuggling remains a key issue, with tariffs contingent on further progress.
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