Trump threatens to impose sweeping new tariffs on Mexico, Canada and China on first day in office
Hindustan TimesPresident-elect Donald Trump threatened on Monday to impose sweeping new tariffs on Mexico, Canada and China as soon as he takes office as part of his effort to crack down on illegal immigration and drugs. “On January 20th, as one of my many first Executive Orders, I will sign all necessary documents to charge Mexico and Canada a 25% Tariff on ALL products coming into the United States, and its ridiculous Open Borders," he wrote, complaining that "thousands of people are pouring through Mexico and Canada, bringing Crime and Drugs at levels never seen before,” even though violent crime is down from pandemic highs. We hereby demand that they use this power," he went on, “and until such time that they do, it is time for them to pay a very big price!” Trump also turned his ire on China, saying he has “had many talks with China about the massive amounts of drugs, in particular Fentanyl, being sent into the United States – But to no avail.” “Until such time as they stop, we will be charging China an additional 10% Tariff, above any additional Tariffs, on all of their many products coming into the United States of America,” he wrote. Whether it is getting allies to spend more on their own defense, opening foreign markets to U.S. exports, securing cooperation on ending illegal immigration and interdicting fentanyl trafficking, or deterring military aggression, tariffs can play a central role.” Trump won the election in large part due to voter frustration over inflation, but his threatened tariffs pose the risk of pushing prices even higher for food, autos and other goods.