On today’s show: Trump’s tariffs against Mexico, Canada, and China went into effect Monday night, and China and Canada quickly retaliated. The Washington Post examines what it could all mean for the price of goods, and Bloomberg looks at the possible economic fallout in Mexico. Ann Marimow from the Washington Post joins to discuss an unusual case before the Supreme Court today pitting Mexico against U.S. gun manufacturers. The Wall Street Journal’s Tarini Parti explains how the push to increase immigration arrest numbers is ensnaring migrants without criminal records. Plus, Trump halts all U.S. military aid to Ukraine, the man whose blood saved 2 million babies, and Los Angeles Lakers star LeBron James prepares to make more basketball history.
Full Episode
Good morning. It's Tuesday, March 4th. I'm Shamita Basu. This is Apple News Today. On today's show, Mexico brings a case to America's Supreme Court, the Trump administration pushes immigration officials to deport more people faster, and how a single man's blood saved over two million babies.
But first, after a one-month delay, President Donald Trump's 25 percent tariffs on imports from Mexico and Canada went into effect at midnight last night. The president also doubled the current tariffs on imports from China from 10 percent to 20 percent. China swiftly responded with retaliatory tariffs on imports of American food and farm products.
like chicken, soy, wheat, corn, fruits, and vegetables. Canada also announced their own tariffs on $30 billion worth of U.S. imports, with promises to extend that in the days to come. Mexico, China, and Canada are among the U.S. 's biggest trading partners. Combined, the three nations were responsible for more than 40 percent of the nearly $3 trillion in goods imported in 2023.
Trump says the tariffs will provide a new revenue source for the government, pressure companies to relocate their production operations to the U.S., and force these countries to do more to stop the flow of fentanyl and illegal immigrants into the United States. Here's how Secretary of Commerce Howard Lutnick described Trump's moves to Fox News on Sunday.
We need fairness and we need the strength of Donald Trump to make the world reasonable to America and stop picking us off. It's over. Donald Trump's going to end it and make the world trade fairly with America.
On the eve of the tariffs going into effect, financial markets took a dive, with the S&P 500 posting its biggest loss since December and the Dow dropping more than 600 points. The Wall Street Journal describes this as the end of a decades-long era and a souring of the bet Canada and Mexico made when they signed agreements tying them to U.S.
trade, believing that the United States would continue to become more interconnected and more market-oriented. So let's take some time today to talk about the expected impact of these tariffs and how we got here.
A month ago, when Trump first threatened tariffs against Mexico and Canada before backing off, officials from those countries made quick moves to deploy more resources to the border, including Canada creating a fentanyl czar and Mexico sending troops. Lutnick told CNN the administration appreciated those moves, but they hadn't done enough on fentanyl.
Yesterday, Mexican President Claudia Sheinbaum disputed that claim, pointing to data that shows there's been a nearly 50 percent drop in fentanyl seizures at the border compared to a year ago. China, meanwhile, did not offer concessions and, according to The New York Times, does not want to come across as pleading with Trump.
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