Trump threatens tariffs: 25% on Canadian and Mexican goods. 10% to China. Set conditions!
President-elect Donald Trump has promised to impose high tariffs on the United States' three biggest trading partners, Canada, Mexico and China, detailing how he will implement campaign promises that could trigger trade wars.
Trump, who takes office on January 20, 2025, said he would impose a 25% tariff on Canada and Mexico until they stop the production and trafficking of drugs, particularly fentanyl, as well as migrants crossing the border.
Trump also announced an additional 10% tariff on China, in some of his more specific comments on how he will implement the economic agenda since winning the Nov. 5 election on promises to "put America first."
While immigration arrests hit a record high during President Joe Biden's presidency, straining the situation at the US border, illegal crossings fell dramatically this year after Biden imposed new border restrictions and Mexico increased controls.
More than 83% of Mexican exports went to the US in 2023 and 75% of Canadian exports go to the US.
The new tariff announced by Trump appears to violate the terms of the US-Mexico-Canada Trilateral Trade Agreement. The deal that Trump signed into law went into effect in 2020 and continued largely duty-free trade between the three countries.
Mexico's finance ministry said the country is a major trading partner of the United States and the agreement provides a security framework for national and international investors.
The office of Canadian Prime Minister Justin Trudeau and the Canadian foreign ministry did not immediately respond to requests for comment.
Previously, Canada and the United States imposed sanctions on each other's products during lengthy talks that eventually led to the tripartite agreement.
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