How do tariffs work? Who pays, who collects and more
Donald Trump’s tariffs on imports from Mexico, Canada and China put such duties in the US at their highest level in about 80 years. But why is he doing it?
Washington | US President Donald Trump has rattled economies and markets with punitive tariffs on goods from the nation’s largest trade partners.
So far, he’s implemented 25 per cent duties on most Canadian and Mexican imports and raised levies on those from China to 20 per cent. The moves bring American import duties to their highest average level since 1943, according to the Budget Lab at Yale University, and Trump has indicated more hikes may follow.
