Trump Imposes 25% Tariffs on Goods from Mexico and Canada
CGC News Reporter
• February 2, 2025
US President Donald Trump signed an executive order on Saturday to impose 25% tariffs on goods from Mexico and Canada, with the exception of Canadian energy resources, which will face a 10% tariff. The new duties on Canada will take effect on Tuesday. The order also includes a 10% tariff on imports from China. This move targets some of the US’s biggest trading partners. In 2023, Canada and Mexico together bought $808 billion worth of US goods, while sending $1.01 trillion in goods to the US. The US currently has a trade deficit of over $40 billion with Canada and more than $162 billion with Mexico. The executive order includes a clause allowing for further measures if these countries respond with their own tariffs.