1 / 10Trump Plans New Tariffs: President Donald Trump will launch 25% tariffs on goods from Canada and Mexico on Tuesday March 4. He also aims to lift tariffs on Chinese products from 10% to 20%. These key trading nations plan retaliation, per their governments’ statements. (Image: Shutterstock)
2 / 10Huge Trade at Stake: In 2024, the US traded $2.2 trillion in goods with Canada, Mexico, and China. US Commerce Department data lists $840 billion with Mexico, $762 billion with Canada, and $582 billion with China.
3 / 10Emergency Powers Used: Trump labelled this an economic emergency to back his tariff decision, per a White House statement. This is the toughest US tariff step since the 1930s, notes trade expert Alan Reid, as per AP report. He targets illegal migration and drugs, Trump said. (Image: Reuters)
4 / 10Energy Tariff Discount: Canada’s energy exports, such as oil and gas, will get a 10% tariff, not 25%. This choice, detailed in a US Trade Representative note on March 02, 2025, supports US homes in the Northeast and Midwest using Canadian energy, per the US Energy Information Agency. (Image: Shutterstock)
5 / 10Cars in the Line of Fire: Car firms rely on parts moving across US, Mexico, and Canada borders. S&P Global Mobility says over one in five US-sold cars came from Canada or Mexico in 2024. The US imported $79 billion in vehicles from Mexico, per Commerce Department figures.
6 / 10Prices Set to Jump: Ford F-series truck engines originate in Canada, says Ford’s 2024 production summary. Trade expert Scott Lincicome told the BBC on March 03, 2025, that 25% tariffs will hike costs across borders. S&P Global Mobility predicts this could raise US car prices by $3,000 each. (Image: Shutterstock)
7 / 10Oil Costs to Rise: Canada exported $98 billion in crude oil to the US in 2024, topping Mexico’s $12 billion, per the US Energy Department. Experts say that US refineries need Canada’s heavy oil, and tariffs will lift Midwest petrol prices.
8 / 10Tech and Toys Targeted: China sent $18 billion in auto parts and billions in phones and computers to the US in 2024, per Commerce Department data. It also shipped $32 billion in toys and $7.9 billion in shoes.
9 / 10Drinks Face Higher Tags: Mexico sent $4.6 billion in tequila to the US in 2023, while Canada exported $537 million in spirits, per the Distilled Spirits Council. Tariffs could raise prices, warns council head Chris Swonger in a statement, risking US hospitality jobs. (Image: Shutterstock)
10 / 10Food Bills to Grow: Mexico supplied $49 billion in farm goods, including 90% of US avocados, in 2024, per USDA stats. Canada added $41 billion. Experts claim that 25% tariffs will increase grocery costs, as shops cannot cover the added fees. (Image: Shutterstock)
