this post was submitted on 31 Jan 2025
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Summary

Trump announced that 25% tariffs on imports from Canada and Mexico will take effect on February 1, though a decision on including oil remains pending.

He justified the move by citing undocumented migration, fentanyl trafficking, and trade deficits.

Trump also hinted at new tariffs on China.

Canada and Mexico plan retaliatory measures while seeking to address U.S. concerns.

If oil imports are taxed, it could raise costs for businesses and consumers, potentially contradicting Trump's pledge to reduce living expenses.

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[–] kreskin 86 points 1 day ago (34 children)

Its Americans trying to buy food who will be hit with a 25% tarriff, not Mexico. And Mexican farmers wont see a dime of that revenue, if anything they will see a decline in revenue as people stop buying the products. It all goes to the US treasury.

[–] [email protected] 34 points 1 day ago (13 children)

I live in Texas, and it's hard to overstate how much of our produce is imported from Mexico. This would be an almost immediate 25% price hike on food that basically can't be grown at scale here because we don't have Mexico's climate. Surely he'd exempt food from whatever he's about to do. Right...?

[–] [email protected] 6 points 1 day ago (3 children)

I expect food would be exempt as you don't want an angry, hungry, volatile population. Bread and Circuses

[–] Roflmasterbigpimp 3 points 1 day ago

I could see that they try to get away with just Circus, tho.

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