By kindlylives According to reports, Trump threatened to impose an additional 10% tax on China products imported into the United States.
He also claimed that he planned to impose duties on Canada and Mexico starting next Tuesday, although he delayed the plan after a meeting with the two presidents last month.
On Thursday, local time, Mr. Trump said that illegal drugs such as tributyl were being smuggled into the United States at an “unacceptable level” and that the levy of duties “would force other countries to step up their efforts to combat drug trafficking.”
“We cannot allow this scourge to continue harming the United States,” he wrote. Therefore, before the problem is resolved, the duties that were originally scheduled to take effect on March 4 will be implemented as scheduled, and China will also be subject to an additional 10% customs clearance. Taxes.”
China, Canada, and Mexico all had close economic and trade relations with the United States.
Both Canada and Mexico had promised to retaliate if the United States imposed duties on their export products. Earlier this month, Trump imposed a 10% tax on China export products. To fight back and announce that starting from February 10, 2025, some imported goods originating in the United States will be subject to additional duties, including 15% on coal and liquefied natural gas, crude oil, agricultural machinery, and large-displacement steam. Cars and pickup trucks will be subject to a 10% tax.
This time, the Ministry of Commerce responded that China firmly opposed the new duties and would “take all necessary countermeasures to defend its legitimate rights and interests.”
The Trump administration has repeatedly threatened to impose duties, claiming to rebalance the global economy through duties and make it more beneficial to the United States.
However, due to the strong opposition of the economics community and the American business community, a series of measures have been announced. It has yet to be implemented.
Plans to impose duties on imported goods from Canada and Mexico have been repeatedly delayed; revised duties on steel and aluminum will not be implemented until next month; The proposed wave of so-called ” equal ” duties would not take effect until April.
Earlier this week, the U.S. president vowed to impose a 25% tax on the European Union, claiming that the European Union was “established to bring down the United States,” though details were still scarce. Mr. Trump said the duties would apply “generally” to “cars and everything else.”
The prospect of higher taxes has thrown the global economy into turmoil. consumers are worried about rising inflation, and if the US levies taxes on Canada and Mexico, the auto industry will also be affected.