Canada and Mexico announced retaliatory tariffs after President Donald Trump’s 25% tariffs on the two countries went into effect March 4, CNBC reported.
Canadian Prime Minister Justin Trudeau announced immediate 25% retaliatory tariffs on CA$30 billion ($20 billion USD) worth of U.S. goods. He added that another CA$125 billion ($86 billion USD) in products would be hit with the same tariff in three weeks.
Mexican President Claudia Sheinbaum said she would announce retaliatory tariffs this weekend.
The 25% tariffs on Mexican and Canadian goods were initially scheduled for Feb. 1, but Trump agreed to a 30-day pause after the two countries agreed to address his concerns about border security and drug trafficking.
The president suggested at his Cabinet meeting on Feb. 26 that Mexico and Canada’s tariffs would be pushed back again to April. However, on Feb. 27 he announced on Truth Social that the tariffs would go into effect March 4.
An additional 10% tax on Chinese goods also went into effect Tuesday, resulting in a cumulative 20% tariff on China.
