Canada and Mexico retaliate with tariffs on US goods

In response to President Donald Trump’s decision to impose a 25% tariff on imported goods, Canada and Mexico announced retaliatory tariffs on American products. Trump’s move was formalized late Saturday when he signed a presidential decree. Canada’s Prime Minister Justin Trudeau announced a 25% tariff on American goods worth $155 billion CAD. Initial tariffs on $30 billion CAD worth will begin on Tuesday, with an additional $125 billion CAD in tariffs coming into effect in three weeks. The USA’s tariffs on Canadian goods will also take effect on Tuesday. The only exception is Canadian energy products like oil, which will have a 10% tariff. Mexico’s President Claudia Sheinbaum also declared tariffs on American goods in response, though details are not specified. The goal of tariffs is to make imported goods more expensive, encouraging the purchase of cheaper domestic products to bolster the country’s economy.