By JOSH BOAK, Associated Press
WASHINGTON (AP) â President Donald Trump has announced plans to implement tariffs on Canada and Mexico starting next Tuesday, in addition to doubling the 10% universal tariff on imports from China.
In a post on Truth Social on Thursday, Trump emphasized the need to address the smuggling of illicit drugs such as fentanyl into the United States at alarming rates. He believes that imposing import taxes will pressure other countries to take action against drug trafficking.
âWe cannot allow this scourge to continue harming the USA. Therefore, until it is significantly reduced, the proposed tariffs set to take effect on MARCH FOURTH will proceed as planned,â the Republican president stated. âChina will also face an additional 10% tariff on that date.â
The possibility of increasing tariffs has already caused disruptions in the global economy, with concerns about rising inflation and potential negative impacts on the auto industry if tariffs are imposed on America’s top trading partners, Canada and Mexico.
The potential consequences of higher prices and slower economic growth could lead to political challenges for Trump.
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