US President-elect Donald Trump said Monday he intends to impose a 25 percent tariff on goods from Mexico and Canada, along with a 10 percent tariff on imports from China in response to the illegal drug trade and immigration.
In a series of posts to his Truth Social social media account, Trump vowed to hit some of the United States’ largest trading partners with sweeping tariffs on all goods entering the country.
“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 another post moments later, the past and future president said he would also be slapping China with a 10 percent tariff, “above any additional Tariffs,” on all of its products entering the US in response to its failure to tackle fentanyl smuggling.
Tariffs are a key part of Trump’s economic agenda, with the Republican president-elect vowing wide-ranging duties on allies and adversaries alike while he was on the campaign trail ahead of his November 5 victory.
Trump’s first term in the White House was marked by an aggressive and protectionist trade agenda that also targeted China, Mexico and Canada, as well as Europe.
While in the White House, Trump launched an all-out trade war with China, imposing significant tariffs on hundreds of billions of dollars of Chinese goods.
At the time he cited unfair trade practices, intellectual property theft, and the trade deficit as justifications.
China responded with retaliatory tariffs on American products, particularly affecting US farmers.
The US, Mexico and Canada are tied to a three-decade-old free trade agreement, now called the USMCA, that was renegotiated under Trump after he complained that the US businesses, especially automakers, were losing out.
“Mexico and Canada remain heavily dependent on the US market so their ability to walk away from President-elect Trump’s threats remains limited,” Wendy Cutler, vice president at the Asia Society Policy Institute, and former US trade official, told AFP.
“He would undoubtedly be challenged in US courts but that will take time to work through the legal process,” she added.
By citing the fentanyl crisis and illegal immigration, Trump appeared to be using national security concerns as a means to break that deal, something that is allowed under the rules set by the World Trade Organisation.
But most countries and the WTO treat national security exceptions as something to be used sparingly, not as a routine tool of trade policy.
Trump in 2018 cited national security justifications to impose tariffs on steel and aluminum imports that targeted close allies like Canada, Mexico, and the European Union.
This led to retaliatory measures from the trading partners.
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US companies, including fast food giants and the automobile industry will collapse if this becomes reality. Not to mention the inflation caused by higher consumer prices. What a fuck up!
China only 10%………………………..a weak spot for dictators…..
Yeah, a main trade-partner and Nato ally gets 25%. WTF?!
Has he told the people that voted for him, who will pick up the tab? Are they so stupid to think the countries affected will be paying for the tariffs?
Curious what the WTO, Congress and Senate have to say about this bullshit.
Not much unless they vote against these tariffs. The US citizens voted for Trump, so it’s their fault if he destroys the economy. They can’t blame the Dems.
They can. Had Biden excluded a second term from the beginning, Kamala would have had more time to get her message across and gained more support. Biden’s shit show caused the ‘anything but Biden/Kamala’ votes among undecided voters.
Biden hung on too long for sure, but Harris was never a smart choice, she has the charisma of a week old pizza.
Baaaaaaaaaaaaaahaaaaaaaaaaaaaahaaaaaaaaaaa!
Despite your joke, i like Kamala and hope she will run 2028. 😎
Yes – he told them. He lied, and said the other countries would pay. And yes, many of his followers *are* so stupid as to believe his lies.
Sounds the ruble has again a bad hairday…………………………..
106.66 currently.
Off topic. I was watching a docu today. It claims Putin was planning the war already 25 years ago, built Nordstream 1 because of it in 2011, and ruSSia suported the killing of protesters in 2014 and even some violent protesters who stormed the Rada were FSB. Also many Ukrainian oligarchs collaborated with Putin. I’m not surprised but still a bit shocked.
If he was planning this for 25 years, he didn’t plan it very well. He underestimated Ukrainians, and he underestimated his energy blackmail.
Yeah, but the myth Ukrainians toppled Yanukovich is dead accorrdingly. Putin himself had Yanukovich removed to retake Crimea as a response to Nato’s expansion into the East.
I forgot to mention that obviously Putin is just China’s puppet to bring downe the West. This also explains why suddenly North Korean troops are fighting against Ukraine. Sadly Trump wasn’t mentioned, since he seems to be a big piece in this puzzle.
And no tariffs on Russian products? ….Strange, very strange.
russia make nothing, so it would be difficult to tariff nothing.
Just lost my job. Seems my company was linked to ruSSia from what i googled. Will contact my embassy and try to get something more solid. This world really IS fucked up!
Sorry to hear that, Mike. Good luck!