The Trump administration announced on Saturday that it is imposing tariffs through its new International Emergency Economic Powers Act (IEEPA).
President Donald Trump signed an executive order authorizing the tariffs Saturday, which will go into effect Tuesday, consisting of a 25% additional tariff on imports from Canada and Mexico and a 10% tariff on imports from China.
Energy resources from Canada will have a lower 10% tariff, according to the White House. In a statement obtained by Fox News Saturday, the Trump administration said the legislation is a response to an “extraordinary threat posed by illegal aliens and drugs, including deadly fentanyl, (that) constitutes a national emergency.”
“This challenge threatens the fabric of our society,” the executive order states. “Gang members, smugglers, human traffickers, and illicit drugs of all kinds have poured across our borders and into our communities.
“Canada has played …