Washington: Newly elected US President Donald Trump has said that he is going to impose a 25 percent tariff on goods coming from Mexico and Canada. Along with this, he has also talked about imposing a 10 percent tariff on imports from China.
Making several posts on his social media account, Trump has vowed to impose a comprehensive tariff on all goods entering the country on America’s major trading partners.
He wrote in the post, on January 20, I will sign all the necessary documents to impose a 25% tariff on all products coming from Mexico and Canada to the United States and its ridiculous open borders.
He said that thousands of people are entering America from the border of Mexico and Canada. The level of crime in America is very high at this time. Even at this time, a large number of illegal immigrants are entering America from Mexico.
One of my first orders on January 20 will also be that I will impose a 25 percent duty on all products imported into America from Mexico and Canada. This decision will be implemented at a time when drugs, especially fentanyl and all illegal goods, are being brought into the US in large numbers.
Will tariffs harm growth?
Tariffs are a key part of Donald Trump’s economic agenda, with the Republican Party’s newly elected president vowing to impose sweeping duties on allies and opponents alike during the election campaign ahead of his victory on November 5.
Many economists have warned that tariffs will harm growth and increase inflation, as tariffs are paid mainly by importers bringing goods into the US, who often pass those costs on to consumers.
It is worth noting that the newly elected President of the United States, Donald Trump, will take the oath of office on January 20. Along with taking the oath, he will sign several files. One of which is also going to be tariffs.
Trump said, we demand that they use this power and until they do so, they will have to pay a very big price. Further, the president-elect accused China of failing to stop the flow of drugs into the US.
Trump said, I have had several conversations with China about the large volumes of drugs, particularly fentanyl, being shipped into the United States – but to no avail.
