Tariffs are back on for America’s top three trade partners.
President Trump said yesterday that Canada, Mexico, and China—which together account for 40% of U.S. imports—are still not doing enough to stop the flow of drugs into the U.S.
He announced that a 25% tax on imports from Mexico and Canada will go into effect on March 4 “as scheduled.” (The tariffs had been paused after the American neighbors promised measures like sending more troops to the border.) China—where Trump says “a large percentage” of fentanyl is made—also faces an additional 10% tariff next week on top of the 10% imposed earlier this month.
Proponents see tariffs as a way of spurring U.S. manufacturing and securing supply lines, while critics warn they could stoke inflation and harm the economy.