President Trump has stood by his election promises and introduced tariffs on Canada, Mexico and China.
White House press secretary Karoline Leavitt confirmed 25% tariffs on Mexico and Canada, and 10% tariff on China starting today (1st February). Energy resources from Canada will have a lower 10% tariff.
In separate exchanges with reporters, when President Trump was asked if tariffs will be introduced on Europe next, he said “absolutely”, repeating statements he made at Davos that the continent has treated the US “unfairly”.
In 2023, the US trade deficit in goods was the world’s largest at over $1trn, according to The White House.
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