Canada and Mexico issue counter-tariffs of 25% to match Trump tariffs.
Around 75-80% of all exports from Canada and Mexico go to the USA - so the Trump tariffs are going to impact them more than other countries.
Country | Percentage of Exports to USA |
---|---|
Canada | 75% |
Mexico | 80% |
GDP % created from exports to the United States for Canada and Mexico
Country | Exports to the U.S. as % of GDP |
---|---|
Canada | 22% |
Mexico | 35% |
Around 30% of all US imports are from Canada and Mexico.
So in theory, consumer prices should increase by 25% on about a third of imports
Country | Percentage of U.S. Imports |
---|---|
Canada | 13.6% |
Mexico | 16.8% |
Less than 1% of illegal immigrants & fentanyl enter the US from Canada.
So this is a pretext motive. Trump is trying to sabotage their economies - perhaps so that they could become part of the US.
It is expected that Trump will introduce EU tariffs as well in 2 months.
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The tariffs announced Saturday could be the beginning of a policy war, with tariff rates at risk of ratcheting even higher. In announcing the tariffs Saturday the White House added there was a "retaliation clause" added to the measures.
"So that if any country chooses to retaliate in any way, the signal will be to take further action with respect to likely increased tariffs," the White House said.
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So the fat orange pig thinks that he can apply Tariff's, but other countries are not allowed to reciprocate.