Tariffs 101: Common questions about Trump’s tariffs answered

Tariffs 101: Common questions about Trump’s tariffs answered

U.S. President Donald Trump has once again turned to tariffs to try to get his way with a U.S. trading partner.This time, the target is Mexico: Trump

Australia ‘concerned’ about 2 Canadians detained in China, foreign minister says
Canada’s ambassador to China meets with second detained Canadian Michael Spavor
Protesters flood Hong Kong airport to show visitors pro-democracy movement

U.S. President Donald Trump has once again turned to tariffs to try to get his way with a U.S. trading partner.This time, the target is Mexico: Trump plans to impose five per cent tariffs on Mexican imports starting June 10 and to ratchet them up to 25 per cent by Oct. 1 if the Mexicans don’t do more to stop the surge of Central American migrants across the southern U.S. border.READ MORE: Trump ignores backlash, doubles down on threat to impose tariffs on Mexican imports
Story continues below

Tariffs have become one of Trump’s favourite policy tools. The president, who calls himself “a Tariff Man,” has slapped the levies on imported steel, aluminum, dishwashers and solar panels. He’s also imposed them on $250 billion worth of Chinese goods in a dispute over China’s aggressive campaign to challenge American technological dominance. And he’s planning to extend tariffs to the $300 billion worth of Chinese imports that he hasn’t already targeted.Before Trump, tariffs had long been fading into history, a relic of the 19th and early 20th centuries when nations tended to focus on keeping imports out and exporting as much as they could.More than any other modern president, Trump has embraced tariffs as a punitive tool — against Europe, Canada and other key trading partners but especially against China, the second-largest economy after the U.S.WATCH: The auto sector may be impacted most by Mexico tariffs

COMMENTS

WORDPRESS: 0
DISQUS: 0