Donald Trump, who won the United States presidential election this month, said he would impose additional tariffs of 10% on goods imported from China and 25% tariffs on products shipped from Mexico and Canada.
Mr. Trump stated the mentioned intentions in publications posted on the social media platform Truth Social. In the context of commenting on imposing additional tariffs on products imported from China, he said that Beijing had not fulfilled promises to institute the death penalty for traffickers of fentanyl, a narcotic opioid analgesic.
Also, in the mentioned publications, Donald Trump noted that drugs are pouring into the United States mainly through Mexico. In this context, he separately underlined that the relevant products are currently being shipped to the US in volumes that exceed those observed in the past.
Donald Trump also announced the intention to sign an executive order on tariffs on goods imported from Canada and Mexico on his very first day in office. In the relevant context, he noted that thousands of people are pouring through the mentioned countries, as a result of which crime and drug trafficking are growing to levels not seen in the past.
Donald Trump has said that the tariffs will remain in force until drugs, in particular fentanyl, and all illegal aliens stop invading the United States.
It is worth noting that against the background of the statement of intentions of Mr. Trump, whose inauguration will take place in January, the Mexican peso and the Canadian dollar showed a downward dynamic. Also, the Chinese yuan declined offshore.
As we have reported earlier, India Cuts Tariffs to Entice iPhone Manufacturing.
