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.
I think this has passed a lot of people by. When Trump announced his crypto scheme he was saying to the world “This is how you buy the power of the president with no paper trail”. Foreign powers can funnel billions through it for favours.
It’s corruption on a unprecedented scale, even for a political system that runs on continual “fund-raising”.