President Trump signs executive orders imposing tariffs on Canada, Mexico and China
(NBC, KYMA/KECY) - President Trump has signed three separate executive orders Saturday to enact tariffs on Canada, Mexico and China.
The White House says Trump is declaring an economic emergency, putting a tariff rate of 10% on all imports from China and 25% on imports from Mexico and Canada, but the exception being a 10% rate on Canadian oil.
The White House says the tariffs fulfill a campaign promise.
Trump says the tariffs are meant to force those countries to do more to stop the flow of fentanyl into the U.S.
More than 107,000 people died from drug overdose in 2023, with nearly 70% of those deaths from opioids, including fentanyl.
The Trump administration says the tariffs are also being imposed because the United States has a trade deficit with the three countries, but many economists fear tariffs will drive up prices in the U.S. on a wide range of products, from cars to beer.
