Lauren Feiner is a elder argumentation newsman astatine The Verge, covering the intersection of Silicon Valley and Capitol Hill. She spent 5 years covering tech argumentation astatine CNBC, penning astir antitrust, privacy, and contented moderation reform.
President Donald Trump says his 25 percent tariffs connected imports from Canada and Mexico, and further 10 percent tariff connected Chinese imports will spell into effect arsenic scheduled connected March 4th, unless imports of narcotics including fentanyl are stopped aliases “seriously limited.”
“Drugs are still pouring into our Country from Mexico and Canada astatine very precocious and unacceptable levels,” Trump writes successful a Truth Social post, without elaborating connected the root of his information. “A ample percent of these Drugs, overmuch of them successful the shape of Fentanyl, are made in, and supplied by, China.”
Earlier this month, the President agreed to pause tariffs connected Canada and Mexico for 1 month, but the caller station indicates that the Trump management is preparing for those agreements to expire. He adds that a abstracted April 2nd deadline for reciprocal tariffs connected countries that enforce their ain fees connected US imports remains successful effect. That later activity of tariffs could see a 25 percent taxation connected machine chips.
While many companies person stayed quiet connected the effect of the tariffs, a fewer are informing consumers of value increases. Acer says a 10 percent import tariff will consequence successful a 10 percent summation of its laptop prices, for example. Automakers are besides bracing for what analysts opportunity will beryllium a immense effect connected the industry, which could consequence successful less deals and buying incentives.
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