Trump Imposes 25% Tariff on Mexican and Canadian Imports, and 20% on Chinese Imports
In a move that has sparked fears of a trade war, US President Donald Trump announced on Monday that a 25% tariff on imports from Mexico and Canada will take effect on Tuesday. The tariffs, which had been temporarily suspended, are part of the administration’s efforts to address concerns over illegal drug trafficking, illegal migration, and the flow of deadly drugs like fentanyl from neighboring countries into the United States.
The decision comes after the 25% tariffs were initially imposed in February, but were suspended when Mexico and Canada agreed to address border-related concerns. However, Trump has since indicated that no further exemptions would be granted, stating, "There is no room left for Mexico or Canada." The tariffs are set to take effect on Tuesday, with a 25% tax on Mexican imports and a 25% tax on Canadian imports.
In a separate move, Trump also signed an executive order increasing a previously imposed 10% tariff on Chinese imports to 20%. The decision, set to take effect on the same day, is attributed to Beijing’s failure to combat the illicit fentanyl trade, according to the administration. The move is expected to impact a range of Chinese imports, from electronics to textiles.
The president also took aim at Ukrainian President Volodymyr Zelenskyy, criticizing his response to American support during the ongoing conflict in Ukraine. Trump stated, "I just think he should be more appreciative because this country has stuck with them through thick and thin. We have given them much more than Europe and Europe should have given more than us… They were a lot smarter than Joe Biden because Joe Biden didn’t have a clue… They should have been able to equalize with us."
When asked about the potential revival of a minerals deal between Washington and Kiev, Trump responded, "I don’t think so. It’s a great deal for us because Biden very foolishly, stupidly gave 350 billion dollars to a country to fight… We get nothing… We could have rebuilt our entire US Navy with 350 billion dollars… What we are doing is getting that all back."
The developments come as tensions between the US and its trading partners continue to escalate, with fears of a broader trade war looming. As the situation remains fluid, one thing is clear: the global economy is bracing for impact.
Original Source: https://timesofindia.indiatimes.com/world/us/no-room-for-delays-donald-trump-raises-china-tariffs-confirms-25-duties-on-mexican-canadian-imports-starting-tuesday/articleshow/118692118.cms
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Publish Date: 2025-03-04 03:07:00
