Cabot Phillips

Anytime.

Anytime.

Yeah, another big campaign pledge that Trump is following through on. The president has long argued that Mexico and Canada were not doing enough to prevent illegal immigrants and Chinese fentanyl from coming across their borders into the U.S. He believes that unless they face economic consequences in the form of tariffs, the problem will persist. And on Saturday, he made it official.

Yeah, another big campaign pledge that Trump is following through on. The president has long argued that Mexico and Canada were not doing enough to prevent illegal immigrants and Chinese fentanyl from coming across their borders into the U.S. He believes that unless they face economic consequences in the form of tariffs, the problem will persist. And on Saturday, he made it official.

Starting Tuesday, all goods coming from Canada and Mexico will be subject to a 25% tariff with no exceptions, while China will face an additional 10% tariff on top of those already in place. Trump is also eliminating a loophole that had allowed duty-free shipments for products worth less than $800. The White House says that loophole was being used to smuggle in drugs and other illicit material.

Starting Tuesday, all goods coming from Canada and Mexico will be subject to a 25% tariff with no exceptions, while China will face an additional 10% tariff on top of those already in place. Trump is also eliminating a loophole that had allowed duty-free shipments for products worth less than $800. The White House says that loophole was being used to smuggle in drugs and other illicit material.

Here's VP Vance on Fox talking about the announcement.

Here's VP Vance on Fox talking about the announcement.

For context, China, Mexico and Canada account for about 40% of all imports to the U.S. So the ramifications here will be widespread. White House says the tariffs will remain in place until meaningful progress has been made to curb the flow of drugs and illegal immigrants. They also included a retaliation clause that will increase tariffs if those countries respond with tariffs of their own.

For context, China, Mexico and Canada account for about 40% of all imports to the U.S. So the ramifications here will be widespread. White House says the tariffs will remain in place until meaningful progress has been made to curb the flow of drugs and illegal immigrants. They also included a retaliation clause that will increase tariffs if those countries respond with tariffs of their own.

And it looks like that might come into play here very shortly. Right. So within hours of Trump's announcement, leaders from Canada, Mexico, and China slammed the move, vowing to retaliate with their own tariffs. It was Canada who struck first. Prime Minister Justin Trudeau announced Saturday evening that he would be responding with 25% tariffs on on $100 billion worth of U.S.

And it looks like that might come into play here very shortly. Right. So within hours of Trump's announcement, leaders from Canada, Mexico, and China slammed the move, vowing to retaliate with their own tariffs. It was Canada who struck first. Prime Minister Justin Trudeau announced Saturday evening that he would be responding with 25% tariffs on on $100 billion worth of U.S.

imports like vegetables, furniture, and household appliances.

imports like vegetables, furniture, and household appliances.

Mexico vowed a looming response of their own that would include tariffs and other measures. Far left President Claudia Scheinbaum went a step further, accusing Trump of slander for saying her government was beholden to criminal organizations like cartels.

Mexico vowed a looming response of their own that would include tariffs and other measures. Far left President Claudia Scheinbaum went a step further, accusing Trump of slander for saying her government was beholden to criminal organizations like cartels.

For their part, China said, quote, fentanyl is America's problem and promised to file a lawsuit with the World Trade Organization and implement what they called, quote, necessary countermeasures to defend its legitimate rights and interests. But we'll have to wait and see if that means tariffs of their own.

For their part, China said, quote, fentanyl is America's problem and promised to file a lawsuit with the World Trade Organization and implement what they called, quote, necessary countermeasures to defend its legitimate rights and interests. But we'll have to wait and see if that means tariffs of their own.

Well, critics of Trump argue that tariffs are essentially a tax on consumers because businesses will be forced to raise prices on imports rather than eating the costs themselves. And it's worth noting President Trump himself is seemingly preparing the American people for higher prices in the short term.

Well, critics of Trump argue that tariffs are essentially a tax on consumers because businesses will be forced to raise prices on imports rather than eating the costs themselves. And it's worth noting President Trump himself is seemingly preparing the American people for higher prices in the short term.