US tariffs: how Trump’s tax is impacting big tech and beyond

Feb 02, 2025 06:33 AM - 6 days ago 8923

President Donald Trump has announced that he’s imposing a tariff connected equipment from immoderate of the US’s biggest waste and acquisition partners: Canada, Mexico, and China. Under the executive orders signed connected February 1st, Canada and Mexico will look a 25 percent tariff, while equipment from China will beryllium taxable to a 10 percent tax. Energy resources from Canada will besides person a little 10 percent tariff.

Trump positioned the tariffs arsenic a measurement to “halt the flood of venomous narcotics into the United States,” referring to fentanyl. The alteration will person a big effect connected the costs of a wide variety of equipment imported from each country, including electronics, produce, clothing, and overmuch more.

Though Trump antecedently said the tariffs will “enrich” citizens, consumers are expected to bear the brunt of the fees arsenic they typically lead to higher prices. Here’s each the latest news connected Trump’s tariffs.

  • Mia Sato

    Trump’s first information of tariffs is almost here

    STKS488_TARIFFS_CVirginia_C

    STKS488_TARIFFS_CVirginia_C

    Electronics, avocados, vegetables, cars, tractors, crude lipid — these are immoderate of the things that could soon get much costly for US consumers. Under President Donald Trump’s projected plan, equipment coming successful from Mexico and Canada will beryllium taxable to a 25 percent tariff opening connected February 1st. White House property caput Karoline Leavitt has besides said Trump was “very overmuch still considering” tariffs connected China connected the aforesaid day. As of precocious Thursday, the specifics of these plans were still up successful the air.

    Sweeping tariffs were 1 of Trump’s marquee run promises starring up to the predetermination successful November. He’s antecedently threatened up to a 60 percent tariff connected equipment from China, a 100 percent tariff connected equipment from Mexico, and moreover a 200 percent tariff connected John Deere products imported into the US. Despite this, Trump grounded to levy immoderate tariffs connected time 1 of his presidency, pinch Bloomberg reporting connected Thursday that his management lacked moreover concepts of a plan. His first information is now expected to deed equipment from Mexico and Canada, the 2 largest waste and acquisition partners for the US.

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  • Emma Roth

    Trump imposes sweeping tariffs connected Canada, Mexico, and China

    STKS488_TARIFFS_CVirginia_A

    STKS488_TARIFFS_CVirginia_A

    Image: Cath Virginia / The Verge, Getty Images

    The US is officially imposing tariffs connected Canada, Mexico, and China. President Donald Trump announced that equipment imported from Mexico and Canada will look a 25 percent tariff, while equipment from China will look a 10 percent tariff. There will besides beryllium a little 10 percent tariff connected power resources from Canada. In a bid of posts on X announcing the tariffs, the management claimed they were happening to “hold China, Mexico, and Canada accountable for their promises to halt the flood of venomous narcotics into the United States” while many times referencing fentanyl.

    The tariffs are group to spell into effect connected Tuesday, February 4th, according to The New York Times. They’re expected to person an effect connected a immense swath of goods, ranging from the electronics we usage each time to necessities for illustration clothing, pharmaceuticals, and lithium batteries.

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  • Adi Robertson

    Canadian officials person reportedly been notified of tariffs.

    Despite nary nationalist announcement yet connected the expected tariffs against Canada, Mexico, and possibly China, Canadian officials show reporters they’ve been notified President Donald Trump is imposing a 25 percent tariff connected astir equipment and a 10 percent tariff connected power products (i.e. oil). Tariffs were expected to spell into unit today, but they’re now apparently expected to deed Tuesday, astatine slightest successful Canada. A consequence from Canada is expected later today.

  • Richard Lawler

    Trump says he’ll put tariffs connected imported chips ‘in the adjacent future’

    Digital collage of products that mightiness beryllium affected by tariffs.

    Digital collage of products that mightiness beryllium affected by tariffs.

    Image: Cath Virginia / The Verge, Getty Images

    Without going into item astir what mightiness hap to the $52 cardinal successful subsidies from the CHIPS Act nether his administration, Donald Trump said tariffs connected overseas machine chips, semiconductors, and pharmaceuticals are coming “in the adjacent future.” He besides namechecked DeepSeek’s AI releases, saying, “...coming up pinch a faster method of AI and little expensive, that’s good. I position that arsenic a affirmative if it is truth and it is true, and cipher knows, but I position that arsenic a positive.”

    In the reside astatine the House GOP Issues Conference held astatine the Trump National Doral Resort successful Miami Monday afternoon, he said that to return the accumulation of these equipment to the US, “we don’t want to springiness them billions of dollars for illustration this ridiculous programme Biden has.” Instead the inducement for manufacturers will beryllium “they will not want to salary a tax.”

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