Bangladesh, Jan. 31 -- In a move that could reshape North American trade dynamics, US President Donald Trump has announced that his administration will impose 25% tariffs on imports from Canada and Mexico, effective February 1. Speaking from the Oval Office on January 30, Trump confirmed his administrations commitment to the tariffs while leaving open the question of whether oil imports from the neighboring nations would be subjected to similar duties.

The announcement marks a significant escalation in Trumps broader protectionist trade agenda, which has long targeted Americas trade deficits and what he perceives as unfair practices by international partners. The new tariffs, Trump claimed, are aimed at addressing concerns over illegal i...