Washington. US President-elect Donald Trump said on Monday 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 10 percent tariff on imports from China.
In a series of posts on his social media accounts, Trump has vowed to impose sweeping tariffs on America’s major trading partners on all goods entering the country.
“On January 20th I will sign all necessary documents to impose a 25% tariff on all products coming from Mexico and Canada into the United States and its ridiculously open borders,” he wrote in the post.
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 present. Even at this time, illegal immigrants from Mexico are entering America on a large scale.
One of my first orders on January 20 will be that I will impose a 25 percent duty on all products being imported into the US from Mexico and Canada. This decision will be implemented at a time when drugs, especially fentanyl, and all illegal items are being brought into the US indiscriminately.
Will tariffs harm development?
Tariffs are a key part of Donald Trump’s economic agenda, with the Republican president-elect vowing to impose sweeping tariffs on allies and opponents alike during the election campaign ahead of his Nov. 5 victory.
Many economists have warned that tariffs would hurt growth and increase inflation, because tariffs are paid primarily by importers bringing goods into the US, who often pass those costs on to consumers.
It is noteworthy that America’s newly elected President Donald Trump will take the oath of office on January 20. Along with taking oath, he will sign many files. One of which is also going to be tariff.
“We demand that they use this power, and unless they do, they will pay a very high price,” Trump said. Additionally, the president-elect accused China of failing to stop the flow of drugs into the US.
Trump said, I have had numerous conversations with China about the massive amounts of drugs, particularly fentanyl, being shipped to the United States – but to no avail.