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Mexico, Canada tariffs coming Tuesday, but Trump will set exact levels, says US commerce head

  • New tariffs on imports from Mexico and Canada are set to begin on Tuesday, with the exact levels to be determined by President Trump and his team, according to Commerce Secretary Howard Lutnick.
  • Analysts and economists stated that Trump's tariff plans could raise consumer prices, and Walmart CFO John David Rainey noted that price hikes may occur for consumers.
  • Canadian Prime Minister Justin Trudeau urged cooperation instead of punishment, expressing that a better way for Trump to create a positive relationship is to partner with Canada instead of imposing tariffs.
  • Estimates indicate that US households could face additional costs exceeding $1,200 annually due to increased prices resulting from the tariffs.
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morningstar.ca broke the news in on Friday, February 28, 2025.
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