Bad news: Over the weekend, President Donald Trump signed orders imposing tariffs on goods imported from Canada, Mexico, and China—just our top three trading partners!
Effective tomorrow at 12:01 a.m., a 25 percent import tax will apply on all goods from Canada and Mexico while a 10 percent import tax will apply on all goods from China (in addition to taxes already levied on those goods).
Some goods—such as Canadian crude oil, which will be taxed at a 10 percent rate, not 25 percent—are partially exempt. But setting a lower tariff for such energy products is Trump telling on himself, admitting that tariffs will in fact raise prices:
