As Donald Trump becomes President of the United States once more, he is considering placing a big 25% tax on goods from Canada and Mexico. He thinks about doing this starting February 1.
Right after he was sworn in, Trump accused Canada and Mexico of not doing enough to stop illegal immigration and drug problems in the U.S. He said, “We’re planning on 25 percent tariffs on Mexico and Canada because they’re letting a lot of people and drugs, like fentanyl, come in.”
Trump also signed orders asking his government to look into various trade problems, including trade deficits and unfair practices. He wants recommendations on how to fix these issues, which could mean more tariffs or other rules.
Canada is prepared to fight back against these tariffs. The Canadian Foreign Minister, Mélanie Joly, said they’re working hard to stop the taxes, but are also ready to respond if needed. Canada’s Finance Minister, Dominic LeBlanc, stated that they are ready for anything since Trump can be unpredictable.
Earlier, Canadian leaders were relieved that Trump didn’t impose tariffs on his first day back as President. Canada heavily relies on trade with the U.S., sending 75% of its exports to America.
LeBlanc warned that imposing tariffs would hurt American families, jobs, and the flow of supplies between countries.
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