Trump Slaps 25% Tariffs on Mexico and Canada, Threatens China

U.S. President Donald Trump has announced a 25% tariff on imports from Mexico and Canada starting February 1, while also threatening a 100% tariff on Chinese imports if TikTok remains under Beijing’s control.

Trump revealed his plan during a briefing in the Oval Office, stating that tariffs would be a primary tool in his international economic policy. He emphasized that these measures are intended to strengthen the U.S. economy. The announcement had an immediate impact, with the Canadian and Mexican currencies declining and U.S. stock futures falling.

Additionally, Trump warned that unless China agrees to transfer at least 50% of TikTok’s ownership to an American company, he would impose a 100% tariff on Chinese imports. He also set conditions for the European Union, stating that European nations must increase their purchases of American oil or face tariffs on European goods.

Following his inaugural speech, Trump promised to end what he called America’s “decline” and usher in a new “golden era.” He reinforced his stance that tariffs are the key instrument of his economic strategy, arguing that they are essential for increasing U.S. revenue.

“We will no longer tax our citizens to enrich other countries. We will tax other countries to ensure the welfare of our citizens,” Trump stated.

Among other economic initiatives, Trump is considering introducing a universal tariff on all imports, an idea he frequently promoted during his campaign.

Canada has prepared a preliminary list of U.S. goods worth 150 billion Canadian dollars ($105 billion) that would face retaliatory tariffs if Trump imposes duties on Canadian exports. Meanwhile, Mexican President Claudia Sheinbaum has announced a plan to boost domestic production and reduce dependence on imports.

Trade Tariff Overview Table