President Donald Trump on Saturday announced tariffs on Canada and Mexico, two of the U.S. largest global import and export partners, making good on his campaign promise to tack a 25% duty on goods imported from those countries.
Tariffs are not an uncommon economic tool, but e2open Group Vice President of Product Strategy John Lash noted they are typically used to rebalance the playing field when imported goods have an unfair advantage over similar goods made in the U.S. – for example, if a foreign government subsidized the cost of production of goods that are also produced domestically, making those imported products far less expensive.
