- Jun 19, 2020
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WASHINGTON (AP) — President Donald Trump said Friday he would place 25% tariffs on imports from Canada and Mexico and 10% tariffs on goods from China effective on Saturday, raising the specter of swift price increases for U.S. consumers as he suggested he would try to blunt the impact on oil imports.
Trump had been threatening the tariffs to ensure greater cooperation from the countries on stopping illegal immigration and the smuggling of chemicals used for fentanyl, but he has also pledged to use tariffs to boost domestic manufacturing and raise revenues for the federal government. --AP
Let the price increasing, foreign nation retaliation on the US replete with the US tax payer subsidizing US job sectors begin. And btw, the two largest countries the US imports oil from? Mexico and China. So right there is a 25% cost increase.