Companies, consumers and farmers across North America braced on Friday for U.S. President Donald Trump to impose 25% tariffs on Canadian and Mexican i...
Flags of Mexico, United States and Canada are pictured at a security booth at Zaragoza-Ysleta border crossing bridge, in Ciudad Juarez, Mexico January 16, 2020. - REUTERS/Jose Luis Gonzalez/File Photo: Companies, consumers and farmers across North America braced on Friday for U.S. President Donald Trump to impose 25% tariffs on Canadian and Mexican imports within hours, moves that could disrupt nearly $1.6 trillion in annual trade.
Even immediate imposition would require two to three weeks of public notice before U.S. Customs and Border Protection could begin collections, based on past tariff actions. Two sources familiar with the matter said that Trump was expected to invoke the International Emergency Economic Powers Act as the legal basis for the tariffs, declaring a national emergency over fentanyl overdoses that killed nearly 75,000 Americans in 2023 and illegal immigration.
Economists and business executives have warned that the tariffs would spark major increases in the prices of imports such as aluminum and lumber from Canada, fruits, vegetables, beer and electronics from Mexico and motor vehicles from both countries. Canada’s energy and national resources minister, Jonathan Wilkinson, said Canada’s response would focus on products that hurt Americans more than Canadians.
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