Trump Confirms Tariffs on Canada, Mexico, China

US President Donald Trump confirmed the implementation of 25% tariffs on imports from Canada and Mexico, and an additional 10% on Chinese goods, set to begin Tuesday. These tariffs are part of efforts to combat fentanyl trafficking into the US, as Trump believes both neighbors have not made sufficient progress in this area. Commerce Secretary Howard Lutnick noted that the exact tariff levels might still be negotiated, indicating a fluid situation. Economists warn that these tariffs could disrupt the North American economy and potentially lead to increased inflation in the US. Various automakers, including Volkswagen, BMW, and GM, could be significantly affected, given their reliance on North American manufacturing and trade. As the tariffs loom, both Mexico and Canada have engaged in last-minute discussions with US officials, hoping to avert or lessen the impact.