February 27, 2025
It’s on. Starting next week those 25% tariffs on Mexico and Canada are coming – and now President Trump has increased the tariffs on the items coming from China. But why?
That was the president in the oval office this afternoon taking reporter questions. But actually Trump initially made the tariff announcement on his social media platform in this post this morning. He said the 25% tariffs on Mexico and Canada would start on March 4th. Trump already put the 10% tariffs on China a few weeks ago, but he says that additional 10% tariff on China would be added next Tuesday too.
And he’s not stopping with China, Mexico and Canada. Trump says all countries — including the European Union — will be facing reciprocal tariffs starting April 2nd. He said that while the British prime minister was sitting right next to him in the oval office.
So – what does this mean for you? Well – I did several deep dives on how the tariffs on Canadian and mexican goods would specifically impact you. Spoiler alert a lot of the things you use and eat every day comes from those countries. And as I have been reporting – you must understand –generally you are the one who will pay for these tariffs. Not China, not Mexico not Canada. And back in January Trump acknowledged this.
Now – will Trump actually follow through with these tariffs this time? Well, that’s unclear because he backed off of these very same tariffs just a few weeks ago. Just hours before they were supposed to take effect– Trump made a last minute deal with Mexico and Canada to delay the tariff implementation for 30 days. It’s also a fact that just before he made those deals the US stock market tanked dropping 600 points over fears of what these tariffs would do to the u-s economy. In case you aren’t catching the drift – investors do not like tariffs. And we know the president watches the stock market very closely. Whether that had anything to do with his decision is unclear but it is a fact that shortly after that stock market tank – the white house announced those short term deals with Canada and Mexico.
So is he going to follow through or not? At this moment it appears trump is going to follow through on the tariffs next Tuesday. But anything could happen between now and then.
Watch Trump talk about the tariffs here.
