Folks, the tariffs are really, truly here. And they are steep.
After delaying his initial threat for a month, President Donald Trump implemented 25 percent tariffs on all Mexican and Canadian imports on Tuesday, with a lower 10 percent tier afforded to energy-related imports from Canada. These came alongside even more taxes on China, with another 10 percent universal tariff added to the levies Trump had imposed on Chinese goods just one month ago.
And, in his first address to Congress on Tuesday, the president hinted that tariffs might also be coming for other countries like India, South Korea, and Brazil, in addition to the 25 percent tariffs on all steel and aluminum bound for American shores.