U.S. President Donald Trump has announced new tariffs on Mexico, Canada, and China as part of his re-election campaign promises, with the measures set to take effect on Saturday.
Speaking to reporters on Thursday, Trump ordered a 25 percent tariff on Canada and Mexico, citing concerns over immigration and drug issues, along with a 10 percent import levy on China. He has also pledged to expand tariffs to include India, Russia, the BRICS group, and the European Union.
Duties of up to 200 percent could be imposed on vehicles imported from Mexico and Canada, and Trump has also suggested extending tariffs to semiconductors, metals used in military hardware production, and pharmaceuticals. Tariffs on oil and gas imports are set to take effect around February 18.
Canadian Prime Minister Justin Trudeau stated that Canada is "ready with a response," while Mexican President Claudia Sheinbaum affirmed that Mexico "will always maintain dialogue" but has alternative plans to address the U.S. government's decision.
The Chinese Foreign Ministry warned that there are no winners in a trade war or a tariff battle, stressing that such a conflict does not serve the interests of any party and is not conducive to the global economy.
China, Mexico, and Canada are the United States' top trading partners, collectively accounting for 40 percent of its imports last year. Economists warn that the new tariffs could disrupt nearly 1.6 trillion U.S. dollars in trade across North America.
Trump to impose first wave of tariffs on Mexico, Canada, China
Trump to impose first wave of tariffs on Mexico, Canada, China
Trump to impose first wave of tariffs on Mexico, Canada, China
