U.S. President Donald Trump aims to sign a presidential decree on January 31, 2025 in an elliptical office in Washington, Washington.
Carlos Barrier | Reuters
US President Donald Trump has been promoting many years of import tariffs on products from Canada, Mexico and China.
On Saturdays, the Trump administration’s senior trade and manufacturing advisors Peter Navaro impose a 25 % tariff on imports from Mexico and Canada, and that China’s 10 % obligations are imposed. I confirmed it. Energy resources from Canada are 10 % lower tariffs.
If the government selects retaliation in some form, there is a retaliation clause, and the signal is to take further action by increasing the tariff.
Customs duties are expected to be valid on Tuesday.
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.”
He called the US trade deficit as three countries, but pointed out Fentanyl and accused all three that were involved in the spread of fatal options in the United States.
Subsequently, Trump pledged to impose new or additional tariffs on many other foreign products, including microchips, oil and gas, steel, aluminum, copper, and pharmaceuticals.
In the latter half of his remarks, Trump said he would be “absolutely” in the European Union.
—CNBC’s Kevin Breuninger contributed to the report.
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