Mr. Trump has introduced a 25% tariff on goods from Canada and Mexico and a 10% tariff on Chinese imports. / Credit: Evan El-Amin via Shutterstock

The Trump administration has announced the implementation of new tariffs affecting imports from Canada, Mexico, and China.

A 25% tariff will be applied to goods from Canada and Mexico, while a 10% tariff will target Chinese imports. These measures are set to take effect on Tuesday.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Concerns over consumer prices

The National Retail Federation (NRF) has expressed apprehension regarding the potential consequences of these tariffs.

The organisation warns that such tariffs could lead to increased costs for American consumers, as importers may pass on the additional expenses through higher prices on everyday goods.

This concern is based on the understanding that tariffs function as taxes paid by U.S. importers, which can ultimately affect retail prices.

International responses and trade relations

In reaction to the U.S. tariffs, Canada and Mexico have announced plans to impose their own tariffs on American goods.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

 Canadian Prime Minister Justin Trudeau has declared a 25% levy on $106 billion worth of U.S. products, while Mexican President Claudia Sheinbaum has outlined intentions to implement both tariff and non-tariff measures.

 China has also criticised the U.S. actions, labelling them as violations of World Trade Organization rules, and has pledged to file a lawsuit while preparing countermeasures.

Industry reactions and economic outlook

Businesses across North America are preparing for the anticipated disruptions resulting from the new tariffs. Industries such as automotive, consumer goods, and energy are expected to face challenges, including increased production costs and potential supply chain adjustments.

Economists have cautioned that these tariffs could contribute to higher inflation and a slowdown in economic growth, potentially affecting various sectors and consumer spending.

As the situation develops, stakeholders are closely monitoring the effects of these trade policies on the economy and international relations.