President Donald Trump announced during an Oval Office signing ceremony that his administration will impose 25% tariffs on Mexico and Canada starting on February 1. This decision marks a significant shift in North American trade policy and has the potential to impact prices for American consumers.
While outlining his broader trade policy for his second term, Trump signed an executive action on Monday that is being described as a temporary measure. This action does not introduce new global tariffs as initially promised by Trump on Day One of his presidency.
