Donald Trump lays down his first marker on tariffs. What happens next could be unpredictable.
Published On Nov 26, 2024, 10:35 AM
Donald Trump has announced plans for significant tariffs on imports from Canada, Mexico, and China, aiming for a 25% tariff on Canadian and Mexican goods and a 10% tariff on Chinese goods. This has generated immediate pushback from China, warning that a trade war would not benefit anyone. The tariffs are framed as measures against drug trafficking and illegal immigration. Discussions with Canadian PM Trudeau have already commenced as a potential negotiation to prevent the tariffs, but further diplomatic and legal ramifications are expected. Implementations could significantly impact industries and the energy sector, especially regarding Canadian oil imports.