Donald Trump announced this Monday, November 25, that he would increase customs taxes on Mexican and Canadian products to 25%, citing immigration and drug trafficking to explain this measure.
“On January 20, as one of my many first executive orders, I will sign all necessary documents to impose 25% tariffs on ALL products entering the United States to Mexico and Canada,” the president-elect wrote in a post on his Truth Social Network. .
China also worries
In a separate post, he announced an increase in customs taxes of 10%, which is added to the existing ones and any additional ones he may decide, on “all the numerous products that arrive from China to the United States.”
He explains that he often raised the issue of drug entry, particularly fentanyl, a major culprit in the US opioid crisis, with Chinese officials who promised to punish him severely, “to the point of punishment.” death”, the “traffickers”.
The increase in customs duties, which he often described as his “favorite expression” during his campaign, is one of the keys to the future economic policy of the president-elect, who is not afraid to reactivate the trade wars, in particular with China, started during his first term.
As for China, it promised customs duties of up to 60% for certain products, or even 200% on vehicle imports from Mexico.
US laws give the president the tools to apply customs duties by decree, as Donald Trump was able to do several times during his first term, for example on Chinese and European steel and aluminum.
Source: BFM TV
