United States Imposes New Tariffs on Neighboring Countries

In a significant move that could escalate trade tensions, 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.

The announcement follows closely on the heels of indications from the White House about potential new trade restrictions. In addition to the tariffs on general imports, President Trump also mentioned that a decision regarding tariffs on oil imports from these countries would be made by tonight.

Retaliatory Measures and Skepticism from Mexico

Both Mexico and Canada have expressed their intentions to implement retaliatory measures should the US proceed with these tariffs. Despite the looming trade war, Mexican President Claudia Sheinbaum has expressed skepticism about the US actually imposing these tariffs on her country, as reported earlier this week.