Trump's Tariffs On Mexican, Canadian and Chinese Goods, Fear Of Trade War
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| US President Donald Trump |
US President Donald Trump has signed an order imposing high tariffs on Mexico, Canada, and China.
This has also led to immediate countermeasures from the two neighboring countries of North America. Through this, a trade war between the United States and its long-time allies Mexico and Canada has begun.
In a post on social media, Trump said, "These tariffs were essential to protect America."
He also said that these three countries must put much more effort into stopping the production and export of illegal fentanyl.
Trump also demanded that Canada and Mexico take strong steps to reduce illegal immigration to the United States.
However, these tariffs may also be counterproductive for Trump. If inflation rises in the United States, the trust that American voters have placed in Trump to get essential goods, gasoline, furniture, and other products at low prices will be at risk.
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Within just two weeks of being sworn in for a second term, Trump has thrown global politics and economics into new turmoil. He has declared an economic emergency and imposed a 10 percent tariff on all goods imported from China and a 25 percent tariff on Mexican-Canadian goods.
The Republican president has announced a 10 percent tariff on oil, gas, and electricity imported from Mexico and Canada. He has included a strategy in his order to further increase the tariff if countries take countermeasures. There is a fear of a massive economic disaster.
Canadian Prime Minister Justin Trudeau said, "On behalf of uniting us, the White House has divided us."
Canada has declared a 25 percent tariff on American goods, including alcohol and fruit. The maximum tariff in the US is $155,000.
Mexican President Claudia Seinbaum also made the same announcement. However, China has not responded so far.
