from ZeroHedge:
And just like that, the Trump trade wars have officially (re)started.
As was widely previewed yesterday, President Trump unleashed the first salvo of his latest trade war with tariffs of 25% on Canada and Mexico and 10% on China, the start of a wave of promised trade barrages against both foreign adversaries and allies.
TRUTH LIVES on at https://sgtreport.tv/
President Trump has officially signed orders implementing 25% tariffs on Canada and Mexico and 10% tariffs on China. pic.twitter.com/wU3KjAZFmc
— Martin Walsh (@martinwalsh__) February 1, 2025
Trump signed orders for the tariffs around 5pm ET on Saturday; they will go into effect on Tuesday, at which point they will likely escalate in tit-for-tat fashion until something breaks.
— Donald J. Trump (@realDonaldTrump) February 1, 2025
According to a fact sheet published by the White House, the tariffs are in response to the “extraordinary threat posed by illegal aliens and drugs” such as fentanyl, which constitute a national emergency under the International Emergency Economic Powers Act.
