Canadian and Mexican imports to the United States will now by taxed at 25%, while duties on Chinese imports will be doubled to 20%.
Damon Pike, technical practice leader for customs and trade services at the tax and consulting firm BDO, suggested the responses of other countries could escalate trade tensions and possibly increase the economic pressure points. “Canada has their list ready,” Pike said. “The EU has their list ready. It’s going to be tit for tat.” - Associated Press, 3/4/25
Please go back and look at the tariff codes for all of your products, whether they’re finished goods [or] raw materials, because each one of these tariffs [are] based on individual tariff codes for individual products, and there’s a lot of variation and gray area in tariff classification.