The Fox News Rundown Business Rundown: Trump Tariffs Coming For Canada, Mexico & China
Jan 31, 2025
Lydia Hu, a Fox Business correspondent reporting live from Canada, dives into the upcoming tariffs imposed by President Trump on imports from Canada, Mexico, and China. She discusses the intricacies of U.S.-Canada negotiations and the concerns raised by local leaders on economic fallout. The impact on agricultural imports and rising consumer prices takes center stage, along with the strain on small businesses. Lydia also highlights border security challenges, linking trade policies to issues like immigration and drug trafficking.
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Impending Tariffs
- President Trump plans to impose 25% tariffs on imports from Canada and Mexico starting February 1st, 2025.
- This action aims to address trade imbalances, border security, and illegal immigration.
Canadian Response
- Canadian officials express nervousness and apprehension about potential tariffs.
- They are actively working to negotiate and communicate with the Trump administration.
Negotiation Challenges
- Alberta Premier Danielle Smith has been in Washington D.C., meeting with officials.
- Cabinet transitions and confirmation delays hinder official negotiations.