Trump ups the ante on tariffs, vowing massive taxes on goods from Mexico, Canada and China on Day 1

CNN — President-elect Donald Trump on Monday promised massive hikes in tariffs on goods coming from Mexico, Canada and China starting on the first day of his administration, a policy that could sharply increase costs for American businesses and consumers. “This Tariff will remain in effect until such time as Drugs, in particular Fentanyl, and all Illegal Aliens stop this Invasion of our Country!” Trump said America’s neighbors can “easily solve this long simmering problem.” Similarly, Trump said that China will face higher tariffs on its goods – by 10% above any existing tariffs – until it prevents the flow of illegal drugs into the United States. The president-elect claimed in the post that Chinese officials promised him the country would execute drug dealers caught funneling drugs into the United States but “never followed through.” Responding to Trump’s announcement, Chinese Embassy spokesperson Liu Pengyu said his country has been in communication with the US about counternarcotics operations and that “the idea of China knowingly allowing fentanyl precursors to flow into the United States runs completely counter to facts and reality.” “About the issue of US tariffs on China, China believes that China-Us economic and trade cooperation is mutually beneficial in nature. Mexico’s President Claudia Sheinbaum responded Tuesday, warning the president-elect that “neither threats nor tariffs will solve the issue of migration or drug consumption.” “Imposing one tariff would mean another comes in response, continuing like this until we put shared companies at risk,” she said, reading from a letter addressed to Trump. Canadian officials responded to the announcement in a statement posted to X on Monday night, saying that their country “places the highest priority on border security and the integrity of our shared border” and is “essential to US domestic energy supply.” “We will of course continue to discuss these issues with the incoming administration,” Canada’s Deputy Prime Minister Chrystia Freeland and Public Safety Minister Dominic LeBlanc said in the statement.