US President Donald Trump feels that he signs an executive order at the Oval Office at Washington, US, 31 January 2025 at the White House.
Carlos Bairia | Roots
us President Donald Trump The long -standing import tariffs on goods from Canada, Mexico and China have been moving forward.
On Saturday, Peter Navaro, Senior Trade and Manufacturing Advisor to the Trump administration, confirmed that Presidents were imposing 25% tariffs on imports from Mexico and Canada, as well as 10% of duties on China. Canada will reduce 10% tariff in energy resources.
It is not clear when new duties will be effective. There was a temporary plan to implement them on Tuesday.
Tariffs are duties levied on foreign goods that are paid by American importers. Economists strongly oppose tariffs, arguing that they result in high prices for domestic consumers.
But Trump has long promoted tariffs as a way to interact on better deals with American business partners, protect domestic industries from foreign competition and to get revenue.
At the Oval office on Friday, Trump said that his decision to slap tariffs on goods from Canada, Mexico and China is “pure economic”.
He referred to the US trade deficit with the three countries, but also pointed to Phentineile, the three accused of complicating the spread of deadly opioids in the US.
Trump then vowed to install new or additional tariffs on several other categories of foreign goods on many other categories including microchips, oil and gas, steel, aluminum, copper and pharmaceuticals, including “all types of therapies”.
In his comment later, Trump said he would slap “exactly” on the European Union.
Kevin Brainninger of KNBC contributed reporting.
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