There will be a massive impact of Trump’s tariffs
US President Donald Trump said his tariffs on Canadian and Mexican steel and aluminium were done through International Emergency Economic Powers Act “because of the major threat…of illegal aliens and deadly drugs killing our citizens, including fentanyl”. He also said the tariffs will benefit the American people. However, the tariffs will increase the cost of building and selling a car in the US.
Trump’s tariffs could affect you, too
US President-elect Donald Trump has announced that he wants to impose a 25% tariff on all Canadian and Mexican products. He also wants an “additional” 10% tariff on imports from China, which Trump blames for the fentanyl crisis, a charge that China has repeatedly refuted. He added that the tariffs may be targeted for others, but they could impact you too.