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Market
How will U.S. trade balance with Canada change by end of 2025 due to tariffs?
2
Resolution / Starting Odds
Increase in U.S. trade deficit • 25%
Decrease in U.S. trade deficit • 25%
No significant change • 25%
Other outcome • 25%
U.S. Census Bureau trade data
Story
Trump Announces 25% Tariffs on All Imports from Mexico and Canada Until Border Crisis Ends; Adds 10% on China
Nov 25, 2024, 11:48 PM
President-elect Donald Trump announced via Truth Social that he will impose a 25% tariff on all products imported from Mexico and Canada starting on his first day in office, January 20th. The tariffs, which will remain in effect until the flow of drugs and illegal immigrants into the United States stops, aim to pressure the neighboring countries to take action against the issue. Trump stated, "As everyone is aware, thousands of people are pouring through Mexico and Canada, bringing Crime and Drugs at levels never seen before." Additionally, Trump declared that he will implement an additional 10% tariff on all Chinese goods on top of existing levies, citing China's failure to crack down on the production and distribution of fentanyl. The tariffs are part of his broader strategy to address what he describes as an "invasion" of drugs and illegal aliens into the U.S.
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Improvement in trade balance • 25%
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