The U.S. president-elect declared he would further sign an executive order imposing a 25% tariff on all the goods that arrive from Mexico and Canada, after being inaugurated on 20 January 2025.
He also declared “They will be charging China an additional 10% tariff, above other additional tariffs, until it ultimately cracks down the fentanyl smuggling.
The threat represents a major escalation in tensions with the United States’ three top trading partners. It can also lead to higher prices for Americans since tariffs work as a form of tax on imports.
The United States is the largest importer in the world. China, Mexico, and Canada account for only 40% of the $3.2tn of goods imported every year, according to official data.
China also defended its efforts to stop the overall flow of illegal drugs and even warned that there could be no winner in a trade war between the two countries.
After Trump stated the tariff threat, he also discussed trade and border security with Canada’s Prime Minister Justin Trudeau, which was kept on good terms.
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One Response
It’s called a joke, lighten up