In a move that could reignite global trade tensions, President Donald Trump announced on Thursday that new tariffs on Mexican, Canadian, and Chinese goods will take effect on March 4, citing the continued flow of deadly drugs like fentanyl into the United States.The 25% duties on Mexican and Canadian imports will be paired with an additional 10% tariff on Chinese goods, which will stack atop existing levies to create a cumulative 20% duty on Chinese products. Speaking from the Oval Office, Trump stressed that insufficient progress in curbing drug shipments — particularly the opioid fentanyl — left him with no option but to escalate trade measures, despite the risk of economic fallout.
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