Update: On February 1, 2025, President Trump signed three executive orders imposing U.S. tariffs on imports from Canada, China, and Mexico. These new tariffs are in addition to any already-existing duties and tariffs, including antidumping and countervailing duties, Section 232 tariffs on steel and aluminum imports, and Section 301 tariffs on Chinese-origin
Mexico
U.S. imposes tariffs on Canada, China, and Mexico; retaliation promised
Update: After a February 3 call with Mexico’s president, President Trump announced on Truth Social that the tariffs on Mexican goods will be paused for one month. He is also scheduled to speak with Prime Minister Trudeau, which could result in the Canadian tariffs being paused. More details to come.
Key takeaways
- U.S. imposes tariffs