President Donald Trump announced tariffs on major trading partners Canada, Mexico, and China, claiming they pose a threat due to illegal immigration and drugs. The tariffs, effective Tuesday, will be 25% on Canadian and Mexican goods (except for energy from Canada, which will be 10%), and 10% on Chinese goods. Trump invoked emergency economic powers, stating the situation constitutes a national emergency. The White House aims to hold these countries accountable for their promises to curb illegal immigration and drug trafficking.
: President Donald Trump announced broad tariffs Saturday on major US trading partners Canada , Mexico and China, invoking emergency economic powers to do so while citing a “major threat” from illegal immigration and drugs.
He invoked the International Emergency Economic Powers Act in imposing the tariffs, with the White House saying “the extraordinary threat posed by illegal aliens and drugs, including deadly fentanyl, constitutes a national emergency.” “Tariffs are a powerful, proven source of leverage for protecting the national interest,“ the White House said.
Imposing sweeping tariffs on the three biggest US trading partners in goods carries risks for Trump, who won November’s election partly due to public dissatisfaction over the economy. “Rising trade policy uncertainty will heighten financial market volatility and strain the private sector, despite the administration’s pro-business rhetoric,“ he said.Trump’s supporters have downplayed fears that tariffs would fuel inflation, with some suggesting his planned tax cuts and deregulation measures could boost growth instead.Doug Ford, premier of Canada’s economic engine Ontario, warned of potential job losses and a slowdown in business with tariffs.
TRADE WAR TARIFFS IMMIGRATION DRUGS CANADA MEXICO CHINA
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