U.S. President Donald Trump’s bold trade policies went live today, March 5, 2025, unleashing a wave of heavy import tariffs aimed at supercharging the American economy.
The plan, long hyped by Trump, slaps 25% tariffs on all goods from Mexico, 25% on non-energy goods from Canada, 20% on many goods from China, and 10% on Canadian energy imports. It’s part of a broader strategy to prop up U.S. manufacturing, bring factories stateside, and create jobs for Americans, cementing what Trump calls a “new U.S. economic order.” The BBC reports Trump sees tariffs as the backbone of his economic vision, promising to boost manufacturing, protect jobs, raise tax revenue, and juice growth.
TARIFFS NOW LIVE:
1. 25% tariffs on all good from Mexico to US
2. 25% tariffs on all goods except energy from Canada to US
3. 20% tariffs on many goods from China to US
4. 10% tariffs on energy from Canada to US
5. 25% retaliatory tariffs on up to $155B of goods from US to…
— The Kobeissi Letter (@KobeissiLetter) March 4, 2025
But the rollout’s already stirring a storm. Experts warn these tariffs could backfire hard, with countries like Canada and China firing back with counter-tariffs—Canada’s already slapped 25% retaliatory duties on up to $155 billion of U.S. goods, per the Kobeissi Letter. Critics, including economists quoted by the BBC, say Trump’s moves, especially on China, risk hiking prices for businesses and consumers in the coming months, potentially tanking the U.S. economy—the very issue Americans prioritize most. If these tariffs flop long-term, Trump’s second-term grip could take a hit, with voters already grumbling.
Markets felt the sting fast. The Dow Jones tanked 300 points today, rattled by the tariff news. Bitcoin, riding high on Trump’s pro-crypto buzz earlier this year, took a nosedive too, dropping to $86,000 at press time—down from its January peak of $110,000. Broader crypto markets followed suit, with Ethereum and others slipping as traders brace for trade war jitters. On X, some traders called it a “reality check” for crypto’s Trump rally, while others worry inflation fears from tariffs could drag prices lower.
