United States President-elect Donald Trump has announced that “Starting from his first day in the oval office, he will impose hefty tariffs on goods coming from China, Mexico, and Canada”. According to his plan, a 10% tariff will be charged on all Chinese imports, while goods from Mexico and Canada will face a 25% tariff. Trump has advocated for ‘America First’ policies, took to Truth Social to share this huge step.
Trump wrote, “On January 20th, as one of my many first Executive Orders, I will sign all necessary documents to charge Mexico and Canada a 25% tariff on all products coming into the United States, and its ridiculous Open Borders”. He further stated that this tariff will remain in place until the US addresses the issues of drug trafficking, especially fentanyl, and illegal immigration.
Trump’s stance on China also ties into his concerns over fentanyl. He has accused China of failing to impose severe penalties, including the death penalty, on those responsible for drug trafficking. He also accused Mexico of high levels on drug trafficking in America. “Drugs are pouring into our country, mostly through Mexico, at levels never seen before,” Trump said.
As part of his broader strategy, Trump plans to charge China an additional 10% tariff on all their goods coming into the US, in addition to any other tariffs already imposed. He further wrote, “Until such time as they stop, we will be charging China an additional 10% Tariff, above any additional Tariffs, on all of their many products coming into the United States of America. Thank you for your attention to this matter.”
This tariff proposal, part of Donald Trump’s campaign promises, has already raised concerns in China, where experts predict that the tariffs could strain trade relations and impact economic growth. A recent poll of more than 50 economists from November 13-20 shows that a majority expect Trump to impose the tariffs as early as next year, with estimates ranging from 15% to 60%. Notably, Tariff is a tax imposed on imported goods, which is paid by the importing country, not the exporting one. In this case, US companies looking to bring products from China, Mexico, or Canada would face higher costs due to the tariffs.
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