The US president says the European Union has treated America “so terribly”, while confirming Mexico and Canada will be hit with tariffs imminently.
US President Donald Trump has confirmed he will impose hefty new tariffs of 25 per cent on goods from Mexico and Canada, and 10 per cent on imports from China, from Saturday .
Oil from Canada will be treated differently from other goods from Canada and Mexico, Trump said, with that tariff rate to be reduced to 10 per cent. He indicated wider tariffs on oil and natural gas would be coming in mid-February, remarks that sent oil prices higher. Most economists estimate such sweeping import taxes, and the likely retaliation, would disrupt economic activity around the globe.
“It’s something we’re doing, and we’ll possibly very substantially increase it, or not, we’ll see how it is,” Trump said. “But it’s a lot of money coming to the United States.
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