Donald Trump to Impose Tariffs on Canada, Mexico, and China Amid Concerns for US Consumers | US News
Donald Trump has announced that he will impose 25% tariffs on imports from Canada and Mexico and 10% tariffs on goods from China starting Saturday.
This decision has sparked concerns about potential price hikes for US consumers, as the US president indicated he would work to mitigate the effects on oil imports.
He has threatened these tariffs to encourage increased collaboration from the two countries in curbing illegal immigration and the trafficking of fentanyl-related chemicals.
Additionally, he has committed to using tariffs as a means to enhance domestic manufacturing.
Ed Conway Analysis:
Trump’s changed approach: focusing tariffs on Mexico and Canada – why?
“Starting tomorrow, those tariffs will take effect,” White House press secretary Karoline Leavitt informed reporters on Friday.
“These are promises made and promises kept by the president.”
The tariffs pose both political and economic challenges for Mr. Trump.
Read more:
Trump’s unpredictability leads UK into uncertainty
Trump’s team: Who’s in – and who might be?
Many voters supported the Republican candidate with the expectation that he could reduce inflation, yet the newly implemented tariffs may lead to price increases and could disrupt various sectors, including energy, automotive, lumber, and agriculture.
Mr. Trump has stated that he is considering granting exemptions for oil imports from Canada and Mexico.
“I might reduce the tariff a bit on that,” Mr. Trump mentioned.
“We think we’ll lower it to 10%.”
👉 Listen to Sky News Daily on your podcast app 👈
The United States imported approximately 4.6 million barrels of oil daily from Canada and 563,000 barrels from Mexico in October, as reported by the Energy Information Administration.
US daily production for that month averaged nearly 13.5 million barrels per day.
China reacted strongly to tariffs Mr. Trump imposed on Chinese goods during his first term, targeting the president’s supporters in rural America with retaliatory taxes on US farm exports.
Both Canada and Mexico have stated that they are prepared to implement retaliatory tariffs if needed.
Canadian Prime Minister Justin Trudeau remarked on Friday: “We’re ready with a response—deliberate, forceful but reasonable, and immediate.”
“It’s not our desired course of action, but if he proceeds, we will also respond.”
For a more accessible video player, please use Chrome browser
Tariffs targeting Mexico and Canada
Read more:
UK ‘not the target’ of Trump’s tariffs, with potential for renewed free trade deal discussions
Mr. Trudeau warned that tariffs could lead to “disastrous outcomes” for the US, jeopardizing American jobs and causing price increases.
Mexican President Claudia Sheinbaum stated on Friday that Mexico has kept lines of communication open with Mr. Trump’s team since before his return to the White House.
However, she asserted that Mexico has contingencies, “Plan A, Plan B, Plan C,” depending on the actions of the US government.
“It’s vital for the Mexican people to know we will always defend our dignity, respect our sovereignty, and maintain equal dialogue, as we’ve consistently stated, without subordination,” she emphasized.
Liu Pengyu, a spokesperson for the Chinese embassy in Washington, remarked that the two nations should resolve their differences through dialogue and consultation.
“There is no victor in a trade war or tariff conflict; it benefits neither side or the global community,” Mr. Liu stated.
“Despite our differences, both countries share significant common interests and opportunities for collaboration.”
Mr. Trump also discussed a plan for tariffs targeting the European Union but did not provide specific details.
He told reporters at the White House that he would “absolutely” impose tariffs on the bloc, remarking, “The European Union has treated us poorly.”
