TARIFFS

Breaking down Trump’s tariffs

WASHINGTON — The import tariffs imposed by President Donald Trump on Canada (25%), Mexico (25%) and China (10%) over the weekend to coerce those countries into shutting down illegal immigration and drug trafficking will likely cause at least some short-term pain for American consumers, according to economists.

Based on data from 2023 compiled by Trading Economics, below is a list of the top 10 imports from each of the three countries – which are also the largest U.S. trading partners – along...

https://www.freightwaves.com/news/breaking-down-trumps-tariffs

Trump’s China import tariffs on top of massive ocean freight rate increases due to conflict in Red Sea are perfect storm for US shippers, analysts warn.

A delay in tariffs on Mexico imports does little to ease the pain for US shippers still facing a 10% hike on tariffs from China in addition to massive increases in ocean container freight rates due to conflict in the Red Sea.

Latest data from Xeneta – the ocean and air freight intelligence platform – shows average spot rates from China stand at USD 4 816 per FEU (40ft container) to the US West Coast and USD 6 264 per FEU into the US East Coast.

This is an increase of 196% and 157% respectively...

https://allaboutshipping.co.uk/2025/02/03/trumps-china-import-tariffs-on-top-of-massive-ocean-freight-rate-increases-due-to-conflict-in-red-sea-are-perfect-storm-for-us-shippers-analysts-warn/

Mexico’s president says tariffs delayed after Trump meeting

Mexican President Claudia Sheinbaum has announced an agreement with President Donald Trump to delay tariffs on Mexican imports for one month.

It was not immediately clear if Mexico would halt its planned retaliatory tariffs.

The 25% tariff on all Mexican imports was originally planned to go into effect on Tuesday. In a post on X translated from Spanish, Sheinbaum said she and her team “had a good conversation with President Trump,” and the tariffs would be delayed for one month from now as part...

https://www.freightwaves.com/news/mexicos-president-says-tariffs-delayed-after-trump-meeting

Automakers taken for a spin following tariff announcements

The U.S. automotive industry is bracing for a massive shake-up after President Donald Trump announced a round of tariffs on imports from Canada, Mexico and China.

Initially set to take effect on Tuesday, the new measures impose a 25% duty on goods from Canada and Mexico, in addition to raising tariffs on Chinese imports by 10%. The tariffs were justified by Trump as a response to concerns over these countries’ roles in fentanyl trafficking, illegal immigration and trade imbalances.

Following a...

https://www.freightwaves.com/news/automakers-taken-for-a-spin-following-tariff-announcements

Energy markets panic over tariffs, but then relax

Energy markets on Monday at least partly shrugged off the potential impact on prices of new U.S. tariffs. 

Most of the tariffs are set to take effect on Tuesday, though Trump extended the deadline for Mexico by one month after its president pledged to deploy 10,000 National Guard troops to the U.S.-Mexico border. 

Refiners balk at higher costs

In the immediate aftermath of the announcement, West Texas Intermediate (WTI) — a domestic benchmark — crude futures surged by $2.65 per barrel, outpacing...

https://www.freightwaves.com/news/energy-markets-panic-over-tariffs-but-then-relax

Tariff threat hits CPKC with cross-border trade disruption

Over the weekend, President Donald Trump announced 25% tariffs on Mexican and Canadian imports; stocks sold off in pre-market trading before Trump issued a one-month delay on the new Mexican duties, while leaving the Canadian tariffs intact.

Still, capital markets’ quick reaction provided a glimpse of which sectors of the economy are thought to be most at risk in the event the tariffs do go through, and one of those sectors was transportation companies with significant cross-border exposure. The...

https://www.freightwaves.com/news/tariff-threat-hits-cpkc-with-cross-border-trade-disruption

Stock markets around the globe tumble in response to Trump tariffs

The U.S. stock market opened Monday with sharp declines after President Donald Trump launched tariffs against Canada, China and Mexico over the weekend.

The Nasdaq tumbled 1.86% or 401 points, leading the declines among the three major U.S. indexes. The Dow Jones Industrial Average tumbled about 1.1%, or around 489 points. The S&P 500 fell roughly 1.8% or 89.6 points.

Trump signed an executive order Saturday putting 25% tariffs on imports from Canada and Mexico, while Chinese products face an...

https://www.freightwaves.com/news/stock-markets-around-the-globe-tumble-in-response-to-trump-tariffs

Mexico and Canada strike back with retaliatory tariffs on US

Officials in Canada and Mexico struck back hours after President Donald Trump imposed a 25% tariff Saturday on imports from the neighboring countries, announcing they would retaliate by implementing their own import duties on U.S. goods.

Trump signed an executive order putting 25% tariffs on imports from Canada and Mexico, while Chinese products will receive an additional 10% tariff. Canadian energy imports will only be tariffed at 10%.

The U.S. duties on all three countries will be fully in...

https://www.freightwaves.com/news/mexico-and-canada-strike-back-with-retaliatory-tariffs-on-us

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