Trump Announces Doubling of Tariffs on Chinese Imports to 20 Percent
U.S. President Donald Trump has announced that tariffs on Chinese imports will increase from 10 percent to 20 percent, effective next week. This decision also includes a 25 percent tariff on imports from Mexico and Canada, citing their insufficient efforts to combat drug trafficking. The tariffs aim to address economic tensions and concern over drug-related issues linked to these nations.
On Thursday, U.S. President Donald Trump announced a significant increase in tariffs on Chinese imports. Initially set at 10 percent, the tariffs will now be raised to 20 percent, commencing on Tuesday. This bold decision amplifies the ongoing economic tensions between the United States and China, with the justification stemming from China’s involvement in the fentanyl drug trade.
President Trump emphasized the severity of the situation, attributing a large portion of fentanyl-related cases to China. In his announcement on Truth Social, he stated, “Until it stops, or is seriously limited, the proposed TARIFFS scheduled to go into effect on MARCH FOURTH will, indeed, go into effect, as scheduled.” He further noted that an additional tariff of 10 percent would also apply to China on the same date.
In addition to the tariffs on Chinese goods, President Trump disclosed a 25 percent tariff on all imports from Mexico and Canada, citing their inadequate measures to curb trafficking across the U.S. borders. These tariffs will also be implemented next week, exemplifying the Trump administration’s stringent approach to trade relations amidst rising concerns over drug trafficking.
In conclusion, President Trump’s decision to double tariffs on Chinese imports to 20 percent and introduce new tariffs on Mexican and Canadian goods marks a critical escalation in trade tensions. His declarations were based on concerns regarding the fentanyl drug crisis. Moving forward, these tariffs aim to hold these countries accountable for their roles in drug trafficking and to influence trade negotiations.
Original Source: www.scmp.com
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