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Trump to Hit Canada, Mexico With 25% Tariffs on Saturday

  • President Donald Trump announced that 25% tariffs on imports from Canada and Mexico will begin on Saturday, citing trade deficits and the flow of fentanyl as reasons for the decision.
  • The U.S. Trade deficit with Canada decreased to $64.3 billion in 2023, yet remains near a two-decade high, according to U.S. Census figures.
  • Canadian Foreign Minister Melanie Joly warned that a trade war would hurt ordinary people and could lead to retaliation if tariffs are imposed.
  • Experts predict that the tariffs will lead to higher consumer prices, particularly affecting gasoline, food, and automotive costs.
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The Straits Times broke the news in Singapore on Thursday, January 30, 2025.
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