According to Financial Times, the U.S. government announced on February 2 that it will impose a 25% tariff on imports from Canada and Mexico. U.S. President Donald Trump signed the tariff order, which includes an additional 25% tariff on products from these countries, along with a 10% tariff on energy resources from Canada. Imports from China will also face an additional 10% tariff on top of the existing U.S. tariffs.
The tariffs are set to take effect on February 4. The White House has indicated that if retaliatory measures are taken against these tariffs, the U.S. may consider further increasing the tariff rates.