3rd February 2025 (12 Topics)
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US Imposes New Tariffs
Context
In a significant escalation of trade tensions, US President Donald Trump signed an executive order imposing new tariffs on imports from Canada, Mexico, and China. President Trump’s executive order imposes:
- 25% tariff on all goods imported from Mexico and Canada (except for energy products from Canada, which are taxed at 10%).
- 10% tariff on all goods imported from China.
Why Did Trump Impose These Tariffs?
The US government has provided several reasons for this decision, focusing on national security and public health concerns:
- Fentanyl Crisis: The administration argues that these tariffs are aimed at curbing the flow of fentanyl, a deadly drug primarily trafficked through Mexico and China. The White House claims that fentanyl is the leading cause of death for Americans aged 18-45.
- Illegal Immigration: The tariffs are also seen as a way to force Mexico to take stronger actions to curb illegal immigration into the United States.
- Holding Countries Accountable: According to the White House, the tariffs are a tool to hold Mexico, Canada, and China accountable for their failure to meet promises regarding illegal drugs and immigration.
What are tariffs?
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