Us President Donald Trump Looks on as He Signs an Executive Order in the Oval Office at the White House in Washington, Us, Jan. 31, 2025.
Carlos Barria | Reuters
Us President Donald Trump is pushing ahead with long-threatened important tarifs on goods from canada, mexico and china.
On Saturday, the Trump Administration Senior Trade and Manufacturing Adviser Peter Navarro Confirmed The President is imposing is imposing 25% tariffs on important from mexico and canada, as well as a 10% duty on min. Energy Resources from Canada will have a lower 10% tariff.
Tarifs are duties imposed on Foreign Goods that are paid by us importers. Economists broadly oppose tarifs, arguing that they result in higher price for domestic consumers.
But trump has long promoted tariffs as a way to negotiate better deals with us trading partners, Protect Domestic Industries from Foreign Competition and Gain Revenue.
In the Oval Office on Friday, Trump Said His Decision to Slap Tariffs on Goods from Canada, Mexico and China is “Pure Economic.”
He referenceed us trade deficits with the three nations, but also pointed to fentanyl, accusing all three of being complicit in the deadly opioid’s spores in the us
Trump then vowed to impose new or additional tariffs on numerous other categories of foreign goods, including microchips, oil and gas, steel, aluminum, copper and pharmaceuticals, including “all forms of medicine.”
Later in his remarks, Trump said he will “absolutely” slap tarifs on the european union.
– CNBC’s Kevin Breunninger Contributed Reporting.
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(Tagstotranslate) Breaking News: Politics (T) Donald J. Trump (T) Business News
