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Canadian Economy and Markets

Donald Trump tariffs explained: Tariffs on Canada, Mexico, China could impact hundreds of billions of dollars of trade in Illinois [Video]

CHICAGO — President Donald Trump’s plan to implement tariffs on key United States trading partners could affect more than $100 billion worth of goods imported to Illinois from Canada, Mexico and China.

The countries were Illinois’ top trading partners in 2023, according to the Illinois Department of Commerce and Economic Opportunity. A wide range of goods coming to Illinois could be affected by tariffs, including oil and natural gas from Canada, beer from Mexico and electronics from China.

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Trump initially committed to imposing 25% tariffs on goods from Canada and Mexico beginning on Tuesday, including a 10% tariff on energy imported from Canada – though on Monday he announced he’d delay the tariffs on Mexico after the country’s president agreed to send troops to the U.S.-Mexico border. The tariffs on Canadian goods remain in place as well as a 10% tariff on all goods coming from China.

Canadian Prime Minister Justin Trudeau announced

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