US President-elect Donald Trump has announced that he will hit Mexico, Canada and China with fresh tariffs from his first day in office. As per reports, the US President-elect has stated that his tariff plan aims to crackdown on drug smuggling and illegal immigration into the USA.
In a social media post, Trump stated that on the first day of assuming office on January 20, he would sign an executive order imposing a 25% tariff on all goods from Mexico and Canada. He added that an additional 10% over and above the current tariffs will be imposed on Chinese goods, to make them stop the smuggling of synthetic drugs, especially fentanyl into the USA.
Trump issues a threat to impose a 25% tariff on all imports from Canada and Mexico on the day he takes office. pic.twitter.com/aoCYdeecmT
— Nick Timiraos (@NickTimiraos) November 25, 2024
Trump’s post mentions that the 25% tariff on goods from Canada and Mexico will remain in effect until such a time as the smuggling of drugs, particularly fentanyl, and illegal immigrants is stopped. He asserted that both Canada and Mexico have the power to stop the smuggling of illegal immigrants and drugs into the USA, but they are not doing enough.
“To be clear, according to Trump the 25% tariffs will not be implemented, or if implemented will be removed, once Mexico and Canada stop the flow of illegal immigrants and fentanyl into the U.S. In other words, Trump is going to use tariffs as a weapon to achieve economic and political outcomes which are in the best interest of America, fulfilling his America first policy”, posted bill Ackman responding to the news.
