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.
You may have misunderstood the article.
There’s a trade agreement that says no tarrifs in exchange for respecting IP which includes not breaking digital locks.
If the agreement is out then there’s nothing preventing Canada from allowing their citizens to circumvent restrictions against repairing their own tractors for example.
Do you honestly think that reducing the cost of fixing a tractor will reduce the cost of agricultural production by 25% across the board?