Trump Ignores Federal Reserve Warnings and Pushes Forward with Tariff Plan!

TradingKey – U.S. President Trump is disregarding warnings from the Federal Reserve and is firmly moving ahead with his tariff plan against Canada and Mexico, which is set to officially take effect after March 4.

On Monday, February 24, Eastern Time, President Trump confirmed that the plan to impose tariffs on Mexico and Canada would proceed as scheduled, claiming, "The U.S. has been taken advantage of by foreign countries in nearly every way and treated very poorly by many trade partners."

Earlier, Trump signed an executive order imposing a 25% tariff on products imported from Mexico and Canada. He justified this move by citing the failure of Mexico and Canada to curb crime and drug trafficking at their respective borders with the U.S.

Two days later, after Mexican President López Obrador and Canadian Prime Minister Trudeau committed to strengthening their efforts in this area, Trump decided to suspend the new tariffs and announced a 30-day delay in implementing the measures, with the tariffs now scheduled to take effect after March 4.

Since taking office, Trump has continually imposed tariffs on multiple countries, including China, the European Union, Mexico, and Canada, leading to significant dissatisfaction and criticism. Among those voicing concerns is Charles Evans, President of the Chicago Federal Reserve Bank and a voting member of the FOMC in 2025, who warned that "large-scale tariffs could cause severe supply shocks, exacerbating inflation."