On his first day in office, President Donald Trump announces plans for expansive tariffs on Mexico, Canada, and China | US News
On his first day in office, Donald Trump has threatened extensive new tariffs on Mexico, Canada, and China.
The incoming president, set to take office on January 20 next year, announced plans for a 25% tax on all products entering the country from Canada and Mexico.
Using his Truth Social platform, he also warned of an additional 10% tariff on Chinese goods, as well as any additional tariffs he may impose with one of his initial executive orders.
What Trump’s tariffs could mean for UK, EU, China and the world
If enforced, these tariffs could lead to higher prices for American consumers on a variety of products, from fuel to vehicles and agricultural goods.
The US is the largest importer of goods globally, with Mexico, China, and Canada being its top three suppliers according to US census data.
In 2023, over 83% of Mexican exports were sent to the US, while 75% of Canadian exports were directed there as well.
“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,” stated Mr. Trump.
He also expressed concerns about the influx of illegal immigrants entering the country.
Migrant apprehensions reached a record high during President Joe Biden’s tenure, but illegal crossings significantly decreased this year due to new border restrictions and increased enforcement by Mexico.
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Mr. Trump added: “Both Mexico and Canada have the absolute right and power to easily solve this long simmering problem. We hereby demand that they use this power… and until such time that they do, it is time for them to pay a very big price!”
Following his tariff threat, Mr. Trump spoke with Canadian Prime Minister Justin Trudeau to discuss trade and border security.
“It was a good discussion and they will stay in touch,” stated a Canadian source.
Regarding China, the president-elect mentioned having numerous conversations with them about the large quantities of drugs, particularly Fentanyl, being sent to the US, but to no avail.
“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,” he announced.
The Chinese Embassy in Washington warned of potential losers on all sides in the event of a trade war.
“China-US economic and trade cooperation is mutually beneficial in nature,” remarked embassy spokesman Liu Pengyu. “No one will win a trade war or a tariff war.”
It remains uncertain whether Mr. Trump will follow through on these threats.
His victory in the recent election was partly due to voter frustration over inflation and rising prices.
Mr. Trump’s pick for treasury secretary, Scott Bessent, who would oversee tariffs if confirmed, has previously stated that tariffs are a bargaining tool.
