the staff of the Ridgewood blog
Washington DC, President Donald Trump announces new tariffs on America’s top trading partners—Canada, Mexico, and China. According to White House Press Secretary Karoline Leavitt, the administration will implement 25% tariffs on imports from Mexico and Canada and a 10% duty on Chinese goods.
Why Is Trump Imposing Tariffs?
The tariffs, Trump says, are a direct response to illegal fentanyl trafficking and border security concerns.
“These countries have sourced and allowed the distribution of illegal fentanyl into our country, and we will no longer stand for it,” said Leavitt in a White House briefing.
The new tariffs take effect as early as today, Saturday, with public details expected to be released shortly.
Impact on Trade & the Economy
Canada, Mexico, and China account for over 40% of U.S. imports, with total trade in goods and services exceeding $1 trillion in 2024. These tariffs are set to shake up North American and global markets, affecting industries and consumers alike.
✅ Canada & Mexico: Approximately 70-80% of their exports go directly to the United States, making these tariffs a serious economic concern for both nations.
✅ China: Already entangled in previous U.S.-China trade tensions, the new 10% tariff on Chinese imports could drive up prices for key consumer goods.
Both Canada and Mexico have stated they will retaliate with their own tariffs, potentially escalating a broader trade war.
How Will the Tariffs Affect American Consumers?
The new trade tariffs could drive up prices on essential goods, including:
📌 Produce & Food Imports – Higher costs for fruits, vegetables, and other agricultural products.
📌 Lumber & Construction Materials – Potential increase in housing and renovation costs.
📌 Electronics & Consumer Goods – Affected by China’s 10% tariff, impacting smartphones, computers, and other tech products.
Oil Tariff Exemption?
Trump had previously suggested an exemption for oil imports, but the White House has yet to confirm if this policy will be implemented.
When Do the Tariffs Take Effect?
While the tariff collection is expected to begin on March 1, the official details and exemptions will be released for public review today.
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Should be interesting. Get ready for the ride. Fasten your seatbelts.
Trump will win! Be patient
But will the American people?
Of course.
When Trump wins, the American people win.
Please try to keep up.
Since he took office, it’s nonstop common sense. Not only that, but it’s becoming so evident what a crazy ride we’ve been on these past 4 years.