#TariffsPause The tariffs imposed by the US on Canada and Mexico have been met with retaliatory measures from both countries. Here's a breakdown of the situation:

- *US Tariffs*: The US imposed 25% tariffs on all imports from Mexico and most imports from Canada, except for Canadian oil and energy exports, which face a 10% tariff. The tariffs aim to reduce the US trade deficit, secure borders against illegal immigration and fentanyl smuggling, and promote domestic manufacturing.

- *Canadian Response*: Canada plans to impose 25% tariffs on $30 billion worth of American goods, expanding to $155 billion after three weeks. Targeted products include:

- *Liquor*: American liquor sales will be halted in various provinces, including Ontario and Nova Scotia.

- *Vegetables and Clothing*: Tariffs will be imposed on these products, among others.

- *Household Appliances and Furniture*: These items will also face tariffs.

- *Mexican Response*: Mexico will implement tariff and non-tariff retaliatory measures against the US, targeting products such as:

- *Pork and Cheese*: Possible tariffs on these products, ranging from 5% to 20%.

- *Steel and Aluminum*: Tariffs may be imposed on these materials.

- *Current Status*: The US tariffs took effect on March 4, while Canada's retaliatory tariffs began simultaneously. Mexico initially delayed its retaliation but has since been working with the US to address issues.

Both Canada and Mexico argue that the US tariffs violate the United States–Mexico–Canada Agreement (USMCA). Economists warn that the tariffs could disrupt trade, upend supply chains, and increase consumer prices ¹.