'Need To Protect America': Donald Trump Imposes Tariffs On Mexico, Canada, China Due To 'Major Threat Of Illegal Aliens'
(MENAFN- Live Mint) On Saturday, US President Donald trump imposed 25% tariffs on imports from Canada and Mexico, and 10% on goods from China. The move risks triggering a new trade war, which economists warn could hamper global growth and fuel inflation.
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Trump signed three executive orders on the tariffs following a lengthy golf outing in Florida, pledging to maintain the duties until what he called a national emergency regarding the drug fentanyl and illegal immigration to the U.S. is resolved, Reuters reported.
Here's what Trump said
Responding to concerns raised by oil refiners and Midwestern states, Trump imposed only a 10% duty on energy products from Canada, with Mexican energy imports facing the full 25% tariff.
At nearly $100 billion in 2023, imports of crude oil accounted for roughly a quarter of all U.S. imports from Canada, according to U.S. Census Bureau data.
Mexico says, 'problems are not resolved by imposing tariff' Mexican President Claudia Sheinbaum on Saturday said that she had instructed her economy minister to implement both tariff and non-tariff measures to protect Mexico's interests, following the U.S. imposition of across-the-board tariffs on Mexican goods.
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Sheinbaum shared the news in a post on X. She wrote, "Problems are not resolved by imposing tariffs, but by talking and dialoguing, as we did in recent weeks with your State Department to address the phenomenon of migration; in our case, with respect for human rights. The graph that President Trump has been posting on social media about the decline in migration was created by my team, which has been in constant communication with his. I instruct the Secretary of Economy to implement Plan B that we have been working on, which includes tariff and non-tariff measures in defense of Mexico's interests. Nothing by force; everything by reason and right," she noted.
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