Trump Announces New Tariffs on Mexico and Canada

In a move that has sent shockwaves through international trade circles, United States President Donald Trump has confirmed the imposition of 25% tariffs on imports from Mexico and Canada. This decision, announced on Thursday, is set to take effect from February 1, marking a significant escalation in trade tensions between the US and its North American neighbors.

The announcement follows closely on the heels of hints from the White House about potential new trade restrictions. Trump also indicated that a decision regarding tariffs on oil imports from these countries would be made imminently.

Retaliatory Measures and Skepticism

In response to the US's aggressive stance, both Mexico and Canada have announced plans for retaliatory measures. However, Mexican President Claudia Sheinbaum has expressed skepticism about the US's willingness to follow through with the tariffs, suggesting a possible softening of the US position in the near future.