President Trump officially imposed tariffs on Canada, Mexico, and China on Saturday after they had ignored his threats.
Trump slapped the tariffs on the three countries under the International Emergency Economic Powers Act.
- 25% tariffs on all Mexico imports
- 25% tariffs on nearly all Canadian imports — 10% on Canadian energy resources
- 10% tariffs on all China imports
CNBC reported:
U.S. President Donald Trump is pushing ahead with long-threatened import tariffs on goods from Canada, Mexico and China.
On Saturday, the Trump administration senior trade and manufacturing adviser Peter Navarro confirmed the president is imposing 25% tariffs on imports from Mexico and Canada, as well as a 10% duty on China. Energy resources from Canada will have a lower 10% tariff.
It’s unclear when the new duties will take effect. The tentative plan was for them to be implemented on Tuesday.
Tariffs are duties imposed on foreign goods that are paid by U.S. importers. Economists broadly oppose tariffs, arguing that they result in higher prices for domestic consumers.
This is a breaking story…please check back for updates.
The post JUST IN: President Trump Officially Imposes Tariffs on Canada, Mexico and China appeared first on The Gateway Pundit.