US to impose tariffs on goods from Canada and Mexico starting in March

Washington, DC- The United States is going to impose additional tariffs on goods imported from Canada and Mexico at a fixed time. President Donald Trump said on Monday that his administration will impose additional tariffs on the two countries starting in March.
Economists have warned that this could increase inflation in the US and increase the risk of an economic recession. “We’re implementing the taxes on schedule, and it’s moving quickly,” Trump said during a White House news conference with French President Emmanuel Macron. He also made it clear that more tariffs could be imposed in the coming months.
Trump says other countries are imposing high tariffs on goods imported from the US and that this is hurting American industry and jobs. He says the additional tariffs will benefit the US economy and generate additional revenue for the government.
From March, most goods imported from Canada will be subject to an additional tax of 25 percent. But energy products such as oil and electricity will only be subject to a 10 percent surcharge. Most products coming from Mexico will be subject to a 25 percent surcharge.
Steel and aluminum coming from these two countries have been subject to 25% additional tax since earlier. This will also be continued, it is said.