America is bracing for substantial price hikes after President Donald Trump signed a series of executive orders imposing new import tariffs on products from Canada, Mexico and China. These duties are set to take effect on Tuesday, sparking wide-ranging concerns over rising living costs and potential economic turmoil.
According to a White House fact sheet, the president's orders introduce a 10% tariff on all goods entering from China, alongside a 25% duty on imports from Mexico and Canada. Canadian energy imports, including oil, natural gas and electricity, will incur a 10% charge. The move, made under the International Emergency Economic Powers Act (IEEPA), is intended to compel these nations to crack down on illegal immigration and the flow of drugs such as fentanyl into the United States.
