Trump tariffs on Mexico, Canada, China imposed

US President Donald Trump has been promoting many years of import tariffs on products from Canada, Mexico and China.

On Saturday, Trump signed a 25 % tariff on imports from Mexico and Canada, and a 10 % duty of China. Energy resources from Canada are hit by 10 % of tariffs in order to “minimize the destructive effects that can affect the crude oil price of gasoline and home heating.”

At the same time, the United States is conducting about 1.6 trillion dollars in annual businesses in three countries. Trump is trying to use tariffs as both negotiations and methods in order to change foreign policy, especially immigration and drug trading issues.

In the message posted in X, Trump quoted his authority under the International Emergency Economic Law. President has enacted taxation “for the major threats of illegal aliens who kill Fentanyl citizens and fatal drugs.”

“We need to protect Americans, and it is my duty as president to ensure the safety of everyone,” he added.

Customs duties for Canadian products are expected to be valid after 12:01 am on Tuesday. There is no official word about when the tariff will be canceled. A senior government official said on Saturday, “There will be a wide range of metrics.”

Also, if the country retaliates in the United States in some form under a new order, tariffs will be escalated.

In an interview with the CNBC on Friday, Peter Navaro, a trading advisor of Trump’s Trump, emphasized the double importance of protecting economic and public safety.

“The Super Bowl is approaching. [New Orleans] The super dome is almost exactly equal to the number of people who have died in the United States every year from Fentanyl. It comes from China and Mexico, “said Navaro, a senior adviser of trade and manufacturing presidents, told CNBC in an interview on Friday. Why is there this kind of discussion? “

Customs duties are obliged to be paid by US importers. Economists are widely opposed to tariffs and claim that domestic consumer prices will increase.

However, Trump has long been promoting tariffs as a way to protect the domestic industry from foreign competition with a better transaction with US trading partners, foreign competition.

In an elliptical office on Friday, Trump stated that his decision to focus on customs duties from Canada, Mexico, and China was a “pure economy.”

However, the economist is worried that the price pressure can recur when the price pressure is about to decline. The Ministry of Commerce reported on Friday that the federal preparation system had a closely measured inflation measured value to 2.6 % in December, but the details of the report seemed more positive. Fed officials have stated that they are monitoring the impact of fiscal policy.

Trump pledged to impose new or additional tariffs on foreign products in many other categories, including microchips, oil, steel, aluminum, copper, and pharmaceuticals. He also said that he would “absolutely” the European Union.

The movement on Saturdays brought the opposition from the Democratic Party of Congress and raised concerns from business leaders.

“The President is correct to focus on major issues such as our broken border and tragedy of Fentanil, but the imposition of tariffs based on IEEPA is unprecedented and does not solve these problems. “The US Chamber of Commerce and Industry Senior Vice President and the International Officer, said in a statement.

President Sean Fein, President of United Automobile Workers, supports aggressive tariffs to protect the interests of workers, rather than using the union as “using factory workers as a pawn”. He said he was.

Economists are worried that tariffs can relapse inflation when price pressure is likely to be declining.

“It is very important to have a better sense of how the economy responds, as well as a better sense of actual policies and how they are implemented,” said Michel Bowman. I said.
The Chicago Federal President Austan Gourthbie, who talked to the CNBC on Friday morning, said that it was important to have a single event or retaliation.

Various industries, from home builders to alcohol producers, also emphasized the impact of companies and consumers. Prior to the Saturday order, the leaders of other companies have expressed concerns about the threat of tariffs.

On Saturday, following the improper of Trump tariffs on Mexico, Canada, and China, R-PA (GT “Thompson), the chairman of Agricultural Chair, issued the R-PA. “”President Trump’s tariff policy was an effective tool for flatting global competition and securing fair transactions for American producers. See the aspect of Colombia about accepting criminal immigrants, which have been repatriated by homeland in a mere threat of tariffs. “

He added as follows: “I am looking forward to working with President Trump to support our diligent producers and make agriculture wonderful again.”

—CNBC’s Kevin Bruninger and Jeff Cox have contributed to the report.