Washington: US President-elect Donald Trump has said he will impose a 25 percent tariff on all products coming from Canada and Mexico, and 10 percent on Chinese goods to check the flow of illegal immigrants and drugs into the United States.
In a series of posts on his Truth Social platform on Monday, he said he would sign executive orders imposing tariffs on the three countries as one of his first actions after assuming office on January 20.
“As everyone is aware, thousands of people are pouring through Mexico and Canada, bringing Crime and Drugs at levels never seen before. Right now, a Caravan coming from Mexico, composed of thousands of people, seems to be unstoppable in its quest to come through our currently Open Border,” Trump 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 wrote.
In another post moments later, the past and future president said he would also be slapping China with a 10 percent tariff, “above any additional Tariffs,” on all of its products entering the US in response to its failure to tackle fentanyl smuggling.
Tariffs are a key part of Trump’s economic agenda, with the Republican president-elect vowing wide-ranging duties on allies and adversaries alike while he was on the campaign trail ahead of his November 5 victory.
Many economists have warned that tariffs would hurt growth and push up inflation, since they are primarily paid by importers bringing the goods into the US, who often pass those costs on to consumers.
But those in Trump’s inner circle have insisted that the tariffs are a useful bargaining chip for the US to use to push its trading partners to agree to more favorable terms, and to bring back manufacturing jobs from overseas.
