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On Monday, U.S. President Donald Trump confirmed that the tariffs he has threatened to impose on all goods from Mexico and Canada will go into effect once a one-month negotiated pause expires. <\/p>\n
"The tariffs are going forward on time, on schedule," he told reporters in a press conference with French President Emanuel Macron at the White House. "We've been mistreated very badly by many countries, and that includes Canada and Mexico. . . . All we want is reciprocal, we want reciprocity. We want the same, so if somebody charges us, we charge them." <\/p>\n
Early this month, Trump threatened to revise the tariff rates on Mexico and Canada upwards to 25 percent (except for Canadian energy, which would be subject to a 10 percent levy). After securing border-related concessions from both nations, Trump agreed to pause the tariff hike for a month for negotiations. If the tariffs do go into effect as he forecast, they will begin to affect cross-border trade on March 4. <\/p>\n
Canada is preparing to retaliate with its own tariffs on a list of $110 billion worth of U.S. goods. "The threat of tariffs is a real one and may continue for a while. We need to be able to deal with the unpredictability of President Trump," said Foreign Affairs Minister Mélanie Joly, speaking to reporters in London on Monday. <\/p>\n
If fully implemented, an across-the-board tariff schedule of 25 percent for Canadian and Mexican goods would have significant economic effects. Economists predict that Mexico and Canada would likely enter a recession; U.S. GDP would be reduced by about 0.5 percent compared with business as usual; and inflation would increase in all three countries. Mexico, as the largest exporter of goods to the United States – larger than Canada or China – would be especially hard-hit. <\/p>\n
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On Monday, U.S. President Donald Trump confirmed that the tariffs he has threatened to impose on all goods from Mexico and Canada will go into effect once a one-month negotiated pause expires. "The tariffs are going forward on time, on schedule," he told reporters in a press conference with French President Emanuel Macron at …<\/p>\n","protected":false},"author":1,"featured_media":56651,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[64],"tags":[374,7429,1930,2220,3164,1328],"class_list":["post-56650","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-maritime-news","tag-canada","tag-effect","tag-mexico","tag-tariffs","tag-trump","tag-week"],"_links":{"self":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/posts\/56650","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/comments?post=56650"}],"version-history":[{"count":0,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/posts\/56650\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/media\/56651"}],"wp:attachment":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/media?parent=56650"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/categories?post=56650"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/tags?post=56650"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}