Trump made a major announcement! Tariffs are implemented and officially levy!

On March 3 local time, US President Trump had been lying about tariff threats to Mexico and Canada.After several reschedulings, the previously proposed effective date was finally announced on the same day, which was officially effective on March 4.

Canada and Mexico, which were subject to tariffs this time, have stated on many occasions that they will take corresponding countermeasures. However, before the US tariff stick officially fell on the 4th, the three major U.S. stock indexes were the first to be stimulated by the news of tax increases and fell sharply.

On March 3 local time, US President Trump attended a White House press conference on the same day. At the press conference, Trump saidThe previously announced reciprocal tariffs will begin on April 2, while the U.S. tariffs on Mexican and Canadian goods will take effect on March 4.

Trump said on the same day that there is no room for consensus on tariffs on Mexico and Canada.

Since Trump entered the White House again on January 20 this year, he first swung the tariff stick to neighboring countries such as Mexico and Canada. So far, the Trump administration has announced a number of tariff threats targeting countries such as Mexico and Canada and the EU.

• On February 1 local time, Trump signed an executive order to impose a 25% tariff on goods imported from Mexico and Canada, of which the tax increase on Canadian energy products is 10%.

   

• On February 3 local time, Trump announced that the implementation of additional tariffs on the two countries was suspended for 30 days and negotiations continued. According to this decision, the relevant tariff measures will come into effect on March 4.

   

• On February 13 local time, Trump announced that he had decided to impose "reciprocal tariffs", that is, to make the tariff rates imposed by the United States and trading partners equal, and said he would consider imposing tariffs on countries that use the VAT system.

   

• On February 26, local time, Trump said that the US has decided to impose a 25% tariff on the EU, which applies to cars and various other goods, and will announce it "soon".

   

• On February 26, local time, Trump said at a cabinet meeting that the United States will impose a 25% tariff on goods from Mexico and other neighboring countries starting April 2 this year.

   

• On February 27, local time, Trump said on social media: "Drugs continue to enter the United States from Mexico and Canada in a very large and unacceptable way. We cannot allow this situation to continue to harm the United States, so the tariff policy originally scheduled to take effect on March 4 will take effect as scheduled."

△Mexican President Sinbaum (data photo)

Before Trump announced that he would impose tariffs on Mexican goods as scheduled on the same day, Mexican President Sinbaum had already stated that the final decision on the imposition of tariffs was in the hands of the United States, but Mexico was also ready to respond.

On the 14th of last month, Sinbaum said he had written to Trump, saying that the letter was accompanied by a chart of trade surplus between the United States and Mexico in steel and aluminum, that is, the United States is in a surplus position with Mexico, so it is not in the interests of the United States to impose a 25% tariff on Mexican steel and aluminum.

△Mexico Ebrad (data photo)

Mexican Economic Secretary Ebrad said on February 11 that Mexico is the main destination for U.S. steel exports, and Mexico imports more steel and aluminum from the United States than exports to the United States. Increasing tariffs is a "unreasonable trick."

On February 3, Trump spoke with Sinbaum. Both announced after the call that the United States and Mexico agreed to suspend the implementation of the tariffs for one month immediately and continue negotiations. However, Trump recently signed another decree, announcing a 25% tariff on all U.S. steel and aluminum imported.

According to the Mexican Ministry of Economic Affairs, Mexico is the largest destination for the export of steel and aluminum products in the United States. In 2024, the U.S. trade surplus with Mexican steel and aluminum products reached US.897 billion.

On February 28 local time, French President Macron said during a state visit to Portugal that if the United States imposes a 25% tariff on imported goods from Europe, the EU will impose "reciprocal tariffs" on US steel and aluminum, and will have to "take response measures" to other products.

△On February 28, French President Macron visited Portugal and spoke at a press conference.

Macron said at a press conference jointly with Portuguese Prime Minister Montenegro that if the United States confirms tariffs on European products, "Europeans will respond to imposing 'reciprocal tariffs because we must protect ourselves and defend ourselves."

Montenegro said Europe cannot be weak and must respond to U.S. tariff measures at the same level or similar levels.

European Commission President von der Leyen has repeatedly expressed his stance on the U.S. threat to the EU tariffs, saying that he will defend the interests of European companies and citizens if necessary.

However, before the date of imposing tariffs on Mexico announced by Trump, the U.S. stock market was the first to be hit by Trump's tariff stick on the 3rd, showing a plunge.

Trump's statement on the imposition of tariffs on the afternoon of March 3 local time stimulated panic in the US stock market. The three major U.S. stock indexes fell sharply at the end of the day, with a drop of more than 2%.

As of the close of the day, the Dow Jones Industrial Average fell 649.67 points from the previous trading day, closing at 43,191.24 points, a drop of 1.48%; the S&P 500 stock index fell 104.78 points, a drop of 5,849.72 points, a drop of 1.76%; the Nasdaq Composite Index fell 497.09 points, a drop of 18,350.19 points, a drop of 2.64%.

In an interview with the British Guardian, American economist and Nobel Prize winner in Economics, Joseph Stiglitz said in an interview with the Guardian that the US government's tariff policy has made the United States a "terrible place of investment" and may trigger stagflation in the United States, that is, the phenomenon of stagnation of economic growth and inflation occurring simultaneously.

At the Munich Security Conference's "Trade War and Peace" theme discussion, several political and business people criticized the United States' frequent tariff threats recently. They say this unilateralism and protectionist practices could trigger a trade war and ultimately damage the global economy.