HIGHLIGHTS-Trump imposes tariffs on Mexico, Canada and China

Reuters02-02 06:52
HIGHLIGHTS-Trump imposes tariffs on Mexico, Canada and China

Feb 1 (Reuters) -

  • President Donald Trump on Saturday imposed sweeping tariffs on Mexico, Canada and China

  • Trump declared a national emergency over the movements of undocumented immigrants and fentanyl over the U.S. border

  • Order includes 25% tariffs on Canadian imports, with the exception of 10% on energy products; 25% on all goods from Mexico; and an additional 10% on goods from China above and beyond existing duties on goods from there

  • Retaliation by any of the three may result in tariffs going higher

  • Tariff on Canada also revokes $800 'de minimis' exemption for small-value shipments to the U.S.

  • Tariffs will remain in place until Trump determines sufficient measures have been taken to alleviate the crisis

  • Tariffs will go into effect on Feb. 4 except for goods already in transit by Feb. 1

  • Canadian officials decry the move, Ontario premier says Canada must 'hit back and hit back hard'

(Reporting By US economics team)

((Daniel.Burns@thomsonreuters.com;))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment