New Tariffs Imposed on Goods Entering the US From Canada, Mexico, and China
Donald Trump imposed new tariffs on goods entering the US from Canada, Mexico, and China. The US president signed an executive order putting a 25% tariff or tax on imports of all goods coming from Canada and Mexico to get both countries to crack down on illegal immigration and drug trafficking. Additionally, goods from China will be subject to a 10% tariff on top of existing tariffs until the country addresses fentanyl smuggling.
Theo Edwards for YAME Digital
We have officially entered the ‘Find Out’ phase
Saturday, February 1, 2025
BREAKING News: Monday, February 3, 2025: Trump faces backlash from business as trade war sounds inflation alarm.
UPDATES: Mexico President Claudia Sheinbaum says US tariffs are on hold for a month after talks with President Donald Trump; Canada 'misunderstood'
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UPDATES: Mexico President Claudia Sheinbaum says US tariffs are on hold for a month after talks with President Donald Trump; Canada 'misunderstood' 〰️
Trump has given a range of reasons for imposing tariffs, including border security, inflows of drugs, and trade deficits - Canada has already introduced retaliatory tariffs.
Canada and Mexico move to retaliate on Trump tariff orders. Moments after Ottawa Premier Doug Ford announced that US companies would be banned from Ontario Government provincial contracts as a direct consequence of tariffs. America only has Donald Trump to blame.
Every year, the Ontario government and agencies spend $30 billion on procurement along with a $200 billion plan to build Ontario. US-based businesses will now lose out on tens of billions of dollars in new revenues.
Ontario, the most populous of Canada’s ten provinces and its industrial heartland, also announced on Monday that it was canceling a C$100 million ($68.12 million) contract with Elon Musk's Starlink. This decision is the latest response to the tariffs imposed by U.S. President Donald Trump.
‘Canada did not start this fight with the U.S., but you better believe we’re ready to win it’ ~ Doug Ford, Ottawa Premier.
The US president spoke to Canadian Prime Minister Trudeau to discuss the tariffs after the White House said Ottawa had “misunderstood” the situation. The two will speak again in a few hours.
LATEST UPDATE: Monday, February 3, 2025 | 5:12 PM EST.
Trump's sudden pause on tariffs with Canada and Mexico reveals uncertainty. While politicians may breathe easier with the halt in tariffs, the situation is more complicated.
Following an agreement to enhance border security, Canada plans to appoint a "fentanyl tsar," while Mexico will deploy 10,000 troops to the border as part of the deal with Trump. Canada is also facing increasing pressure to reduce its reliance on the United States and to reevaluate the nature of its cross-border relationship.
Buy Canada
Anger persists prompting calls for Canada to boost in-country trade while seeking more dependable international partners beyond the US.
China
China has placed counter-tariffs on US imports that will take effect on February 10.
Monday, February 3, 2025 | 7:30 PM EST.
Beijing hits back! China has announced retaliatory tariffs on certain American goods as U.S. tariffs on all Chinese products come into effect.
Beijing Strikes With Lightening Speed. China is not what it once was.
The Chinese tariffs due to begin on Monday would put a 15% import tax on US coal and liquefied natural gas, plus 10% on crude oil, agricultural machinery, pick-up trucks, and some sports cars. But there are signs that Beijing is in listening mode.
Donald Trump imposed new tariffs on goods entering the US from Canada, Mexico, and China. The US president signed an executive order putting a 25% tariff or tax on imports of all goods coming from Canada and Mexico to get both countries to crack down on illegal immigration and drug trafficking. Additionally, goods from China will be subject to a 10% tariff on top of existing tariffs until the country addresses fentanyl smuggling.
President Trump views his actions as a central part of his economic vision. He sees tariffs as essential for growing the US economy, protecting jobs, and increasing tax revenue. Which Economists largely viewed [statement] as misleading.
We have officially entered the ‘Find Out’ phase
Justin Trudeau, the Prime Minister of Canada, in his responses, announced retaliatory measures against the United States.
Canada is imposing a 25% tariff on $155 billion worth of American goods in response to the U.S. trade actions.
$30 billion worth of American goods will face immediate tariffs starting on Tuesday.
An additional $125 billion worth of American products will be subject to tariffs in 21 days, providing time for Canadian companies and supply chains to adjust and find alternatives.
Includes everyday consumer items like: American beer, wine, bourbon, fruits and fruit juices (specific mention of orange juice), vegetables, perfumes, clothing, and shoes.
It also includes major consumer products: household appliances, furniture, and sports equipment.
Canada is also targeting materials like lumber and plastics.
Canada is also exploring non-tariff measures related to critical minerals, energy procurement, and other strategic partnerships.
Talk about collateral damage
Some observers see Trudeau’s move as having done the math on how to respond. According to their observations, it will create food insecurity for Americans, bring car production to a halt, and worsen the current housing crisis in the United States.
The burden of tariffs can profoundly affect both the market and the everyday shopper
TRADE WAR
If a US importing firm chooses to pass the cost of a tariff onto consumers through higher retail prices, it is the American buyer who ultimately suffers the economic consequences.
On the other hand, if the importing firm decides to absorb the cost of the tariff without passing it on to consumers, it bears the economic burden itself, resulting in lower profits than it would have otherwise earned.
The leaders of Canada, Mexico, and China (L-R): Justin Trudeau, Prime Minister of Canada; Claudia Sheinbaum, President of Mexico; and Xi Jinping, President of China.
The day after imposing significant new tariffs on Mexico, Canada, and China
A day after imposing significant new tariffs on Mexico, Canada, and China, President Donald Trump acknowledged something that economists, members of Congress, and even some of his former aides have long been warning: Americans may have to bear the financial burden of these tariffs.
“THIS WILL BE THE GOLDEN AGE OF AMERICA! WILL THERE BE SOME PAIN? YES, MAYBE (AND MAYBE NOT!).”
The question on everyone's mind is who ultimately bears the economic burden of tariffs.
Theo Edwards for YAME DigitalPlease stay updated for ongoing developments. Refresh the article page for the latest information.
Mexico
Mexico's President, Claudia Sheinbaum, said in a post on X that she had also ordered retaliatory tariffs.
People walk along U.S. Route 101 during a protest against arrests and deportations of migrants by U.S. government agencies in Los Angeles, California
"I instruct the economy minister to implement Plan B that we have been working on, which includes tariff and non-tariff measures in defense of Mexico's interests," she wrote.
China
China says it will take retaliatory measures against US President Trump’s new tariffs, saying fentanyl is ‘America’s Problem.’
China's Ministry of Commerce, meanwhile, accused the United States in a statement released Sunday of violating World Trade Organization rules with the tariff.
The ministry said China would file a lawsuit with the WTO against the United States and take "corresponding countermeasures to firmly safeguard its rights and interests."
“Next up for Tariffs? The EU!”
Mr. Trump stated to the BBC late Sunday that tariffs will definitely be imposed on the European Union over US oil and gas imports and could arrive 'pretty soon.' He noted that trade with the UK is ‘out of line,’ but believes a deal can be reached.
European Union warns it will retaliate if US President Trump imposes tariffs,.
RELATED
Prof. David Honig of Indiana University—Robert H. McKinney School of Law, wrote:
The Difference in the Negotiating Process: Distributive vs. Integrative Bargaining.
Distributive bargaining involves a competitive negotiation strategy where each party tries to maximize their own gain, often at the other party's expense. This approach is typically used when resources are limited, and the goal is to divide them.
In contrast, integrative bargaining focuses on collaboration between parties to achieve a win-win outcome. This strategy emphasizes mutual interests and aims to find solutions that satisfy both sides, allowing for greater value creation and a more sustainable agreement.
Understanding the distinction between these two bargaining styles is crucial for effective negotiation.
Distributive vs. Integrative Bargaining
Wonky Stuff
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UN Top Court Says Israeli Occupation of Palestinian Territories is Illegal
The International Court of Justice (ICJ) said Israel should stop settlement activity in the occupied West Bank and East Jerusalem and end its "illegal" occupation of those areas and the Gaza Strip as soon as possible.
By Raffi Berg, BBC News, London
The result could have consequences for Israel over its occupation of the West Bank, East Jerusalem and Gaza
It also says Israel should end all settlement activity there, in the landmark case.
By Raffi Berg, BBC News, LondonThe UN's top court has said Israel's occupation of Palestinian territories is against international law, in a landmark opinion.
The International Court of Justice (ICJ) said Israel should stop settlement activity in the occupied West Bank and East Jerusalem and end its "illegal" occupation of those areas and the Gaza Strip as soon as possible.
The court's advisory opinion is not legally binding but still carries significant political weight. It marks the first time the ICJ has delivered a position on the legality of the 57-year occupation.
The ICJ, based at The Hague in the Netherlands, has been examining the issue since the beginning of last year, at the request of the UN General Assembly.
The court was specifically asked to give its view on Israel's policies and practices towards the Palestinians, and on the legal status of the occupation.
Delivering the court's findings, ICJ President Nawaf Salam said it had found that "Israel's... continued presence in the Occupied Palestinian Territory is illegal."
"The State of Israel is under the obligation to bring an end to its unlawful presence in the Occupied Palestinian Territory as rapidly as possible," he said.
The court also said Israel should evacuate all of its settlers and pay reparations to Palestinians for damages caused by the occupation.
Israel has built about 160 settlements housing some 700,000 Jews in the West Bank and East Jerusalem since 1967. The court said the settlements were illegal. Israel has consistently disputed that they are against international law.
Israel also claims sovereignty over the whole of Jerusalem, which it considers its indivisible capital - something which is not accepted by the vast majority of the international community.
Change Begins Now, Starmer says
Change begins now, Starmer says - as Labour wins a historic landslide. Sir Keir Starmer enters Downing Street as Labour's first prime minister in 14 years after a landslide victory at the general election.
As Labour wins a historic landslide
July 5, 2024 (UK)
Sir Keir Starmer enters Downing Street as Labour's first prime minister in 14 years after a landslide victory at the general election.
The Labour leader has become the UK's new prime minister - securing the 326 seats required for a majority in the House of Commons - putting an end to 14 years of Conservative rule.
He said "My government will serve you, politics can be a force for good", as he addressed the nation from Downing Street for the first time as prime minister.
"Our country has voted decisively for change, for national renewal, and a return of politics to public service," he said.
"Our work is urgent and we begin it today."
Outgoing Prime Minister Rishi Sunak conceded defeat moments before Labour surpassed the target number of seats needed for victory, declaring at his election count: "The Labour Party has won this general election and I have called Sir Keir Starmer to congratulate him on his victory."
Later, as he resigned as leader of the Conservative Party - signaling a Tory leadership race - Mr. Sunak said it had been an honor to serve as the country's prime minister and he had "given this job my all."
Earlier, a gleaming Sir Keir told a crowd of supporters: "We did it, you campaigned for it, you fought for it, you voted for it and now it has arrived, change begins now."
He added the UK is once again experiencing the "sunlight of hope".
"The sunlight of hope, pale at first but getting stronger through the day. Shining once again on a country with an opportunity after 14 years to get its future back."
With 648 seats out of 650 seats declared by Friday lunchtime, Labour will be forming the next government with a majority of at least 170.
Read more:
Uneasy voters hand Labour 'loveless landslide'
Labour have won - but what happens next?
The results have seen the nation firmly turn its back on the Tories.
Speaking after he held on to his seat, a solemn-looking Mr Sunak said his party had faced a "difficult night" and he took full responsibility for the results.
He said: "The British people have delivered a sobering verdict tonight... and I take responsibility for the loss.
"To the many good, hard-working Conservative candidates who lost tonight... I am sorry."
Other key moments from a dramatic night of results include:
Several Tory cabinet ministers lost seats to Labour, including Liz Truss, Grant Shapps and Penny Mordaunt;
Others fell victim to the Lib Dem plan to "smash" the Tory Blue Wall, like Alex Chalk and Gillian Keegan;
Former Labour leader Jeremy Corbyn held on to his seat as an independent;
Reform UK leader Nigel Farage won a Commons seat at his eighth attempt;
Green Party co-leader Carla Denyer defeated shadow culture secretary Thangam Debbonaire in Bristol Central;
Labour's shadow paymaster general Jonathan Ashworth lost his seat to an independent;
Senior Conservative backbencher Jacob Rees-Mogg lost his seat to Labour.
Read more:
Who is your local MP now?
Tory big beasts who lost their seats
Houdini Hunt's great escape
The results mean a Labour prime minister in Number 10 for the first time since 2010 and the Conservatives facing a fight over the future direction of the party.
Already senior figures have been weighing in on what went wrong.
Ms Mordaunt, who is likely to have been a leadership contender if she had survived, said the Conservatives had taken a "battering because it failed to honour the trust that people had placed in it".
Warning against a shift to the right she said the party's renewal would not be achieved "by us talking to an ever smaller slice of ourselves, but being guided by the people of our country".
"Our values must be the people's," she added.
Keir Starmer embraces Victoria at a watch party at Tate Modern. Pic: PA
Former Home Secretary Suella Braverman, seen as a leadership contender on the right, blamed the result on the Conservative's "not keeping our promises".
And Mr Shapps hit out at the Tory "soap opera" which had turned off voters, as he warned his party against going "off on some tangent, condemning ourselves to years of lacklustre opposition".
The Tories faced a battering not only from Labour, but from the Lib Dems and Reform UK too.
Nigel Farage. Pic: Nigel Farage/Reform/X
The success of Reform UK saw Nigel Farage win in Clacton - his eighth attempt at entering parliament - alongside former Tory Lee Anderson, who won his seat of Ashfield, Rupert Lowe, who took Great Yarmouth for the party, while former party leader Richard Tice won in Boston and Skegness.
It came after a swathe of Reform candidates took second place in Labour seats, pushing the Tories into third or even fourth place.
Mr. Farage said there is now a "massive gap on the center-right of British politics and my job is to fill it".
He added it is not just the Tories he would be taking on: "We're coming for Labour."
Read more:
Meet Victoria, Sir Keir Starmer's wife
Who won the popular vote?
Meanwhile, Liberal Democrat leader Sir Ed Davey hailed the results for his party as "exceptional".
The Lib Dems won their highest number of seats since the party was founded - securing at least 70.
Liberal Democrat leader Sir Ed Davey. Pic: PA
When polls closed on Thursday night, the exit poll by Ipsos UK for Sky News, the BBC and ITV News suggested the Lib Dems would win 61 seats - up from 11 - more than five times the number they secured at the last election in 2019.
They secured a number of gains from the Tories - including in Wells & Mendip Hills, Dorking & Horley, Wimbledon, Yeovil, Hampshire North East and Norfolk North.
They also took the constituencies of two of the four former Conservative prime ministers from the last 14 years - Lord Cameron in Witney and Lady May in Maidenhead.
In Wales, the Tories were wiped out, while in Scotland Labour were rampant.
It was a torrid night for the SNP, who were down to just nine MPs by Friday morning.
That is down from 48 at the last election, resulting in the Lib Dems overtaking them as the third-largest party.
In a sign that Sir Keir's landslide may not have been driven by overwhelming public enthusiasm, turnout at the election was on course to be the lowest for more than 20 years.
After all but two results had been declared, the turnout figure stood at 59.85%, the lowest turnout at a general election since 2001.
Faye Brown | Political reporter @fayebrownSky | Friday 5 July 2024 12:57, UKRelated
Miatta Fahnbulleh, the 44-year-old British economist, born in Liberia with matrilineal ties to Sierra Leone, was elected as the new Member of Parliament for Peckham in the UK general election on July 4, 2024. She secured 22,813 votes in what is considered a safe Labour seat.
Fahnbulleh takes over from former Labour MP Harriet Harman, who had represented the area for many years.
Education: BA from Lincoln College, Oxford; MA and Ph.D. in Economic Development from London School of Economics. Prospective Parliamentary Candidate: Labour Party's candidate for Camberwell and Peckham in the UK.
The election result was part of a broader Labour success in Southwark, where the party secured all five constituencies that overlap with the borough.
JP Hitting The Nail. Interesting take on the Tories!
No surprise, the Labour landslide. The comment from a Conservative MP. ‘Frankly, I feel disgusted about how a Conservative Prime Minister can treat decent people who have sacrificed so much with such contempt.