On Saturday, President Donald Trump signed executive orders imposing tariffs on China, Mexico and Canada, the US’s largest trade partners, under the International Emergency Economic Powers Act (IEEPA). The tariffs would impact one-third of all goods shipped into the US — including clothing, footwear and beauty products.
Trump has framed the 25 per cent tariff on Mexican and Canadian goods as a measure to combat drug trafficking and illegal immigration, while the 10 per cent tariff on imports from China aims to address what he perceives as an unfair trade imbalance with the so-called “world’s factory”. As part of the IEEPA, Trump has also suspended the “de minimis” shipping exception, which allows parcels up to $800 in value, per importer per day, to enter the US without being taxed.
