China:
Trump's proposed 60% tariff on Chinese imports targets reducing dependency on Chinese goods, emphasizing U.S. manufacturing growth. This move intensifies ongoing trade tensions, aiming to counteract what Trump describes as China's unfair trade practices. The tariffs could reshape global supply chains, pressuring businesses reliant on Chinese imports.
Canada:
Although no specific measures have been announced, a potential universal 20% tariff on all imports may affect Canada significantly. As a key trading partner, this could challenge industries like automotive and energy, crucial to U.S.-Canada trade.
Mexico:
Mexico faces similar uncertainty with the proposed universal tariffs. Being a major exporter of agricultural and manufactured goods to the U.S., this change could disrupt industries dependent on cross-border trade, complicating the USMCA agreement's stability.
These tariffs, if implemented, could redefine North America's trade dynamics while escalating tensions with China.
