Washington (TDI): The White House says that United States President Donald Trump is going to impose further tariffs on Saturday in countries such as Mexico, China, and Canada. He also shared the tariff percentage, which is 25% for Mexico, 25% for Canada, and 10% for China.
Moreover, Trump further added on Friday that he would enforce tariff action on Canadian oil, which would take effect after 18th February. He also showed his intention to impose tariffs on the European Union. He said the EU bloc had not been treated well.
In this scenario, White House Press Secretary Karoline Leavitt showed the reason behind imposing tariffs on Canada and Mexico,“
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“the illegal fentanyl that they have sourced and allowed to distribute into our country, which has killed tens of millions of Americans”.
In this sense, the White House press secretary further emphasized Trump’s agenda, ‘’there are promises made, and Mr. President keeps promises.”
In this regard, Trump made massive tariffs action on Chinese products in his first term, and those actions have remained steady since 2018. During Trump’s second term, he imposes light tariffs on Chinese goods and products.
PRESIDENT TRUMP: “I had almost no inflation and yet I charged hundreds of millions of dollars of tariffs to countries… I had almost no inflation and took in $600M from other countries. Tariffs don’t cause inflation. They cause success.” pic.twitter.com/haw8rWlWPr
— Rapid Response 47 (@RapidResponse47) January 31, 2025
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As per the Chinese official Vice Premier of China, who spoke in Switzerland to address the World Economic Forum, his country is more interested in a “win-win’’ solution to trade tensions and wants to expand its imports.
China, Canada, and Mexico are the top US trading partners, accounting for 40% of the goods imported into the US last year, and fears are rising that the new steep levies could kick off a major trade war as well as push up prices in the US.
The top US trading partners are China, Mexico, and Canada, estimated for 40% of the goods imported into the US last year. Now, power corridors are surviving in fear that the new trade war will increase the new wave of inflation and push up prices in the US.
Canadian Prime Minister Justin Trudeau made clear stance on Friday, ‘’it’s not what we want, if he’ll do, we’ll also act.’’
Canada and Mexico have already shared their concerns about the new tariffs and executive actions without getting approval from Congress. Simultaneously, both nations have mutually reassured Washington that robust steps were being taken to discuss pressing concerns over border security with the United States.
