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.
Literally any other politician I could believe would be stupid enough to rile everyone up about tariffs but still be hesitant to pull the trigger on it out of fear of the economic repercussions.
Trump straight up doesn’t understand the repercussions, will fire anyone who tries to explain them to him, and has no reservations whatsoever about pulling any triggers that he can get his lil fingies around.