Trump vows new tariffs on China, Mexico, and Canada

Nov 27, 2024, 11:43 am

		0
U.S. President-elect Donald Trump attends the launch of the test flight of the SpaceX Starship rocket on Nov. 19, 2024, in Boca Chica, Texas./ Source: Reuters – Yonhap News

AsiaToday reporter Choi Hyo-geuk

U.S. President-elect Donald Trump said on Monday that he plans to impose a 25% tax on all products imported from Canada and Mexico, and an additional 10% tariff on goods from China, on his first day in office. He said he will continue such measures until illegal immigration and illegal drug trade issues are resolved.

“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 wrote in a post on his Trust Social site.

If tariffs are imposed, they could violate the non-tariff provisions of the U.S.-Mexico-Canada Agreement (USMCA), which Trump signed in 2018 during his first term in office, and cause great confusion. In addition, consumer prices of a number of products ranging from gas to automobiles in the U.S. could soar, triggering inflation. As of last year, the U.S. accounted for more than 83% of exports from Mexico and 75% of Canadian exports.

Trump said the new tariffs would remain in place until they clamped down on drugs, particularly fentanyl, and migrants crossing the border. He said the Chinese government is not doing enough to prevent illegal drugs from entering the United States through Mexico. “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.”

After Trump threatened to slap an additional 10% tariff on all Chinese imports when he takes office on Jan. 20, the Chinese Embassy in Washington said on Monday, “Neither the United States nor China would win a trade war.”

#Trump #tariff #China #Mexico #Canada