President Donald Trump has introduced new tariffs as part of his economic policy plan. The move comes after he promised to put import taxes at the center of US economic policy during his re-election campaign. The new tariffs are 25% for imports from Canada and Mexico, and 10% from China. They will take effect on February 4.
Notably, these tariffs differ from previous ones that applied only to specific goods categories. This is a significant shift, as it applies the tariffs to all imports from the three countries involved.
Source: https://www.bloomberg.com/news/articles/2025-02-02/what-trump-aims-to-achieve-with-his-new-tariff-plans