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Business Reporter
The president of the United States, Donald Trump, will impose tariffs on Saturday of 25% in Mexico, 25% in Canada and 10% in China on February 1, says the White House.
But Trump said Friday that Canadian oil would be beaten with lower 10%tariffs, which could later enter into force, on February 18.
The president also said that he planned to impose tariffs on the European Union in the future, saying that the block had not treated the United States well.
The White House Press Secretary Karoline Leavitt said that the duties of Canada and Mexico were in response to “the illegal fentanyl they have obtained and allowed to distribute to our country, which has killed 10 of million Americans.”
Trump has also repeatedly said that the measure was to address the large amounts of undocumented migrants who have met American borders, as well as commercial deficits with their neighbors.
Mrs. Leavitt said a news conference at the White House on Friday: “These are promises made and promises held by the president.”
During the electoral campaign, Trump threatened to hit Chinese manufacturing products with tariffs of up to 60%, but retained any immediate action on his first day back in the White House, instead of ordering his administration to study the problem.
The imports of American goods from China have been flattened since 2018, a statistic that economists have partially attributed to a series of growing tariffs that Trump imposed during his first mandate.
Earlier this month, a senior Chinese official warned against protectionism when Trump’s return to the presidency renews the threat of a commercial war between the two largest economies in the world, but did not mention the US. UU. By its name .
Going to the World Economic Forum in Davos, Switzerland, Ding Xuexiang, vice president of China, said his country was looking for a “win-win” solution for commercial tensions and wanted to expand their imports.
China, Canada and Mexico are the main US business partners, who represent 40% of the goods imported to the US. UU. Last year, and fears are increasing that the new steep taxes could start a great commercial war and increase prices in us.
Canadian Prime Minister Justin Trudeau, said Friday: “It is not what we want, but if you advance, we will also act.”
Canada and Mexico have already said that they would respond to US tariffs with their own measures, while seeking to assure Washington that they were taking measures to address concerns about their US borders.
The BBC has communicated with the Chinese embassy in the United States to comment.
If oil imports from the United States of Canada and Mexico are beaten with levies, it runs the risk of undermining Trump’s promise to reduce the cost of living.
Tariffs are an import tax produced abroad.
In theory, taxing items that enter a country means that people are less likely to buy them as they become more expensive.
The intention is to buy cheaper local products, which increases the economy of a country.
But the cost of tariffs on imported energy could be transmitted to companies and consumers, which can increase prices of everything from gasoline to groceries.
On Friday, Trump agreed that tariff costs are sometimes transmitted to consumers and that their plans can cause short -term interruption.
About 40% of the crude oil that crosses American oil refineries is imported, and the vast majority comes from Canada.