US President Donald Trump is set to impose tariffs on its two largest trade partners, Canada and Mexico, as well as increase levies on Chinese goods, in a move that could significantly impact the global economy.
Tariffs of up to 25% will be slapped on Mexican products, with most Canadian goods also facing significant increases. This decision comes after Trump’s long-standing efforts to renegotiate trade agreements and impose tariffs on countries deemed unfair trading partners.
The levies on China are expected to be doubled, following a similar path as the tariffs imposed on Mexico and Canada. The move is part of Trump’s broader strategy to reshape the US economy, generate new revenue streams, and reestablish its economic dominance.
Source: https://www.bloomberg.com/news/articles/2025-03-02/trump-barrels-toward-tariff-barrage-on-canada-mexico-and-china