Donald Trump slaps steep tariffs on imports from Canada and Mexico as president risks trade war with neighbors
Donald Trump has threatened a trade war with America’s neighbors by imposing high tariffs on goods from Canada and Mexico.
According to the recently appointed president, taxes are essential to halting the production and importation of the deadly narcotic fentanyl into the United States.
However, Americans will have to pay more for manufactured goods like computers and vehicles, as well as fruits like avocados and tomatoes.
Given that taxes go into effect on Tuesday, the Republican seems willing to take the chance of a trade war that might cost families $1,000 (USD) and slow down overall growth if prices surge.
Trump has added a 10% tax to trade with China and imposed a 25% tariff on all imports from Canada and Mexico.
Energy imports from Canada, such as natural gas and oil, were only subject to a 10% tariff.
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However, since Canada has already reacted, it might put America at risk of a trade war with its biggest trading partners and closest neighbors.
Justin Trudeau, the prime minister of Canada, declared that he will match 25% duties on up to $155 billion worth of US goods, including fruit and alcoholic beverages.
In order to convey the sense of betrayal that many Canadians are experiencing, Trudeau made the statement in a solemn tone.
He reminded Americans that Canadian forces served with them in Afghanistan and responded to several emergencies, such as Hurricane Katrina and California wildfires.
“We were always there, standing with you, grieving with you, American people,” Trudeau added.
“People and workers on both sides of our border will suffer serious repercussions from it. We’d rather not be here.
“We didn’t ask for this, but we will not back down in standing up both for Canadians and for the incredible successful relationship between Canada and the United States.”
Trump’s suggestion that “the Mexican government has alliances with criminal organizations” was criticized by Mexican President Claudia Sheinbaum.
As an alternative, she suggested that Trump “fight the sale of drugs on the streets of their major cities, which they don’t do.”
Price inflation may also result from the application of tariffs shortly after the Federal Reserve had managed inflation.
Although it has not yet announced retaliatory tariffs, China’s leadership promised to bring America before the World Trade Organization.
Trump is currently drafting more duties and plans to target imports of copper, pharmaceuticals, steel, oil, natural gas, computer chips, and European Union goods.
In the first few weeks of his presidency, Trump has attacked America’s allies in pursuit of his America First goal.
After Colombia refused to repatriate migrants who had entered the US illegally, the president imposed sanctions on the nation.
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Bogota reversed course and agreed to accept the return of its own citizens just two hours after Trump threatened a whopping 50% tariff and declared a 25% levy.
A computer-generated image of him standing next to a sign that stated FAFO—which often stands for “f**k around, find out”—was later tweeted by Defiant Don.
Trump’s Done List
Donald Trump has jumped right in and is working hard to make his second term as president a huge success.
He has already renamed Mount McKinley back to its native name, Denali, and changed the name of the Gulf of Mexico to the Gulf of America.
Following his inauguration, Trump formally proclaimed a national emergency at the US-Mexico border.
Without Congress’s approval, he can now utilize federal funds to erect a wall along the border.
Additionally, he issued a directive to abolish birthright citizenship, which is the practice of awarding US citizenship to someone born in the country.
This edict, which is constitutionally protected, is probably going to face significant legal challenges while he is in office.
Additionally, Trump signed an order designating some gangs from El Salvador or Venezuela as foreign terrorist organizations, as well as Mexican drug cartels.
This might give his government more authority to use military strikes against the criminal organizations or to evict their members from the United States.
Like he did at the start of his first term, Trump likewise pulled out of the Paris Climate Agreement.
Additionally, Trump has declassified classified records that provide details about the assassinations of Martin Luther King Jr., JFK, and RFK.