The president-elect said on social media he intends to slap heavy tariffs on America’s neighbours and top trading partners as soon as he returns to the White House in January.
: Mexico and Canada have hit back at Donald Trump’s tariff plans, warning about the potential economic impact and urging the president-elect to choose co-operation over the prospect of retaliatory trade wars.
In addition, he threatened that China would receive “an additional 10 per cent tariff” on top of tariffs already in place on Chinese goods unless the country implements the death penalty for drug dealers connected to the fentanyl trade. “One tariff will follow another and so on, until we put our common businesses at risk,” Sheinbaum said in a letter to Trump, which she read at her daily press conference and planned to send to him later in the day.
Trevor Tombe, an economist who authored a report on the consequences of US tariffs on the Canadian economy, warned a recession was likely if Trump followed through on the 25 per cent tariff. Then-president Donald Trump and Canadian Prime Minister Justin Trudeau in 2019. Trudeau, said this is a relationship which “takes a certain amount of working on” as he seeks to address concerned Canadian provincial premiers.“We obviously talked about laying out the facts, talking about how the intense and effective connections between our two countries flow back and forth,” he said.
“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 said.
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