President-elect Donald Trump has announced his intention to impose a 25% tariff on imported products from Mexico and Canada and an additional 10% on goods from China starting from January 20th. This move is part of his efforts to address the fentanyl crisis and illegal immigration.
Trump says he plans to enact new tariffs on Canada , China and Mexico on his first day in his officePresident-elect Donald Trump
on Monday said his incoming administration would slap new tariffs on imported goods from Mexico, Canada and China, solidifying a key campaign promise that could have a major impact on trade. Trump said in a post on Truth Social that he plans to impose a 25% tariff on products imported from Mexico and Canada, framing the proposal as a response to the ongoing fentanyl crisis.
Mexico and Canada are the United States’ top two trading partners, accounting for nearly 30% of trade volumes. The vehicle manufacturing industry, dairy, paper products, and building supplies like wood are just some of the products that would face disruptions. on various goods from China, saying in May that he would increase the tariffs on electric vehicles from 25% to 100% this year.Economists and retail trade groups estimate that tariffs on goods flowing into the U.S.
“Other countries are going to finally, after 75 years, pay us back for all that we’ve done for the world, and the tariff will be substantial,” Trump said during his Sept. presidential debate against Harris., was negotiated during Trump's first administration and went into effect in July 2020.
Donald Trump Mexico Canada China Tariffs Fentanyl Crisis Trade War
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