The incoming Republican administration of Donald Trump has threatened to impose a 25 per cent tariff on all products from Canada and Mexico on the first day of his presidency — Jan. 20, 2025. Canada says it will continue to work with the United States on trade issues while Mexico has hinted at retaliation.
The tariffs would be devastating to both the Canadian and Mexican economies, which depend heavily on trade with the U.S. for their economic well-being.
The two targeted governments would in fact be forced to respond with retaliatory tariffs targeting American goods, creating economic carnage in all three countries.
