In this additional update, we interpret President Trump’s international political strategy and the economic impact of international import tariffs and trade restrictions.
Last weekend, US President Donald Trump pushed for the imposition of import tariffs on goods from Canada, Mexico and China. Mexican products would be taxed with a 25% import tariff. This would also apply to Canadian products, with the exception of energy, where a 10% tariff would be imposed. Meanwhile, the initially announced US import tariffs on Canadian and Mexican goods have been suspended for a month in exchange for border protection agreements with both countries.
The announced import tariffs on Chinese goods apply for now. That country is subject to a 10% tariff increase on all goods on top of existing tariffs. At the same time, President Trump announced that the EU will be next.