President Trump announced that 25% tariffs on Mexican and Canadian goods will take effect March 4. These tariffs were originally set to begin Feb. 4, but he issued a 30-day reprieve. The president said the tariffs are needed because of a continuing influx of illegal drugs. Trump also announced an extra 10% tariff on goods from China. This is on top of the additional 10% tariff enacted on Chinese-made products in early Feb. This latest action will bring the total import fee on some Chinese goods to 45%. Tariffs on steel and aluminum are scheduled to start March 12. And Trump has also pledged to impose tariffs on imports from the European Union and other specific products. Stay tuned.
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