Washington – President Donald Trump will impose 25% tariffs on Canada and Mexico and 10% tariff on effective goods on Saturday, the White House said, but it did not give any words on whether there will be any discounts for measures. As a result, the price may increase rapidly for American consumers.
Trump had threatened tariffs to ensure more cooperation from countries to prevent illegal immigration and to prevent smuggling of chemicals used for fentinyl, but he promoted domestic manufacturing and increase revenue for the federal government. Has also promised to use tariffs.
White House press secretary Karolin Lewit told reporters, “From tomorrow, they will be in tariffs.” “These promises are made and there are promises made by the President.”
Tariffs carry both political and economic risks for Trump, which is only two weeks in its second term. Many voters supported Republicans at the promise that it could reduce inflation, but the chances of tariffs can trigger high prices and potentially disrupt energy, auto, wood and agricultural areas.
Trump had said that he was releasing discounts for Canadian and Mexican oil imports, but Levit said he had no information to share on the President’s decision on any possible imprisonment.
According to the Energy Information Administration, the United States imported about 4.6 million barrels of oil daily from Canada and 563,000 barrels from Mexico in October. The US daily production during that month had an average of about 13.5 million barrels a day.
Trump has earlier stated that 10% of tariffs on sugar imports will be at the top of other import taxes levied on products from the country.
Both Canada and Mexico have said that they have prepared an alternative to repayment tariffs if necessary, which can trigger a comprehensive trade conflict in turn, which economic analysis says that can damage development and inflation further Can speed up.
Canadian Prime Minister Justin Trudeau said on Friday that Canada is ready if Trump proceeds with tariff, but he did not give details.
“We are ready with a response, a purposeful, tremendous but appropriate, immediate response,” he said. “This is not what we want, but if he moves forward, we will also work.”
Trudeau stated that Tariff will have “destructive results” for the US, risking American jobs and prices will increase. Trudeau reiterated that less than 1% of Fentanile and illegal crossing in the US comes from Canada.
Mexican President Claudia Shinbam said on Friday that Mexico has maintained a dialogue with Trump’s team before returning to the White House, but he emphasized that Mexico has “Plan A, Plan B, Plan C which is” Plan A, Plan B, Plan C Decides the United States government. ”
“Now it is very important that Mexican people know that we are always going to defend the dignity of our people, we are always going to defend a dialogue amidst our honor and equality, as we have always said , Without subordinate, without subjugation, “Shinbam said.