President Trump signed an administrative order on Saturday to impose a 25%tariff on Canada and Mexico imports and added an additional 10%imposition on China’s products. Canada responded a few hours later with retaliation, and Mexico said it plans to issue tariffs in the United States.
According to Reuters, China’s commercial minister said China will challenge tariffs through the World Trade Organization.
Salbo, who threatened Trump before returning to power earlier this month, emphasized his willingness to use trade policy for the largest economic allies in the United States.
Targets will be held at 12:1 am on Tuesday. This command imposes 25%tariffs on Canadian products, but “energy resources” such as oil and gas are hit by 10%tariffs.
According to the order, if one of the three countries must “retaliate” with “import tariffs” or “similar measures,” the president increases the obligations imposed on this order to ensure the efficacy of this behavior. You can zoom in. . “
According to the White House, SALVO aims to suppress the unlawful immigrants and illegal drugs into the United States. It causes the resurrection of domestic manufacturing; We are raising federal income.
Trudeau announced at a Saturday night press conference that 25%of tariffs will be retaliated with the first tariff set that Canada enters Tuesday on Tuesday.
Trudeau said, “This includes immediate tariffs on $ 30 billion worth of products as of Tuesday, and will include additional tariffs on US products worth $ 125 billion for 21 days to allow Canadian companies and supply chains to find alternatives for 21 days. “Trudeau said.
In a statement published on social media, Mexico’s Shane Baum, Mexico, said in a statement on social media that she instructed the economic minister to assemble a response including retaliation and other measures in defending retaliation and “defending the interests of Mexico.”
Sheinbaum said, “We reject the defamation claim that the White House condemns the Mexican government’s alliance with a criminal organization and blames the attempt to interfere with our territory.”
John Murphy, the senior vice president of the US Chamber of Commerce and Industry, who has become the world’s largest business organization, ignores Trump’s decision and says, “The tariff under IEEPA is unprecedented and does not solve this problem. I will raise the price.
MURPHY added, “We will consult our members, including the main street businesses in the country that are affected by this movement, to determine the next step to prevent economic damage to Americans.”
Three trade associations of distilled mental industries (US distillation mental councils, chambers of the Tequila industry, and Spirits Canada) said in a joint statement that the US tariffs on the import spirit of Canada and Mexico are very concerned. It leads to a retaliatory tariff cycle that has a negative impact on the shared industry.
BOB Hemesath, Iowa, a farmer and a member of the agricultural group, who advocates more open trade, and president of the agricultural group, said that Canada, Mexico and China are “indispensable markets in the livelihood of the US AG economy.” “Putting tariffs on three maximum export markets for US farmers and ranches will have a long -term serious result.”
The House of Representatives, Mike Johnson, wrote in social media that President Trump said, “I have to take responsibility for their role in the flow of illegal aliens and illegal drugs across the border between Mexico, Canada and China. This is old.
Senator Chuck Schumer, a senior minority leader, criticized the movement of a series of social media posts. One of them is “I’m worried about the price of groceries. Price increase with money tariffs.”
Experts warn that the impact of tariffs can affect the economy of Canada, Mexico and China, the largest trading partner in the United States and the United States itself. According to Wendong Zhang, a professor of economics at Cornell University, the Canadian economy could decrease 3.6% and Mexico could hit 2%.
At the same time, the US inflation will increase to 1 percentage point, increasing the annual level to 4% per year, or doubling the annual federal reserve bank goals for annual interest rates, Capital Economics said in January. 28 Research Note.
EY economist Gregory DACO said in a January 31 report, “We stressed that the steep tariffs on US trading partners could cause negative economic hits combined with inflation impulses.
DACO said, “This tariff on Mexico, Canada and China will show the main waves of the first trade imposition in Trump’s new terms, as other countries achieve potential goals and American companies explore the destruction and retaliation. There is a danger beyond the economy.
US consumers are brutally wielding a brace on Trump’s impact, and polls expect to see a higher price according to the plan that the president will make his own plans. Economists say that some consumers have urged some consumers to buy goods before Trump’s inauguration.
Analysts with Oxford economics said in research notes, “The prospect of tariffs seems to affect the behavior of consumers and business,” and in the research note, “imports have risen in December and attempted tariffs, while consumers are tariff. You can deliver expenditures by predicting the related price hikes. “
US consumer I was able to see a higher price The latter strawberry, including agricultural products and agricultural products imported from Canada and Mexico, and the former and the former, avocados and strawberries. According to TD Economics, cars can see an average price of $ 3,000 each due to tariffs that have a huge amount of cars in Canada and Mexico.
