 he intends to impose sweeping tariffs on goods from Mexico, Canada and China, prompting a swift warning from Beijing that “no one will win a trade war.” In a series of posts to his Truth Social account, Trump vowed to hit some of the United States’ largest trading partners with duties on all goods entering the country. “On January 20th, as one of my many first Executive Orders, I will sign all necessary documents to charge Mexico and Canada a 25 percent tariff on ALL products coming into the United States,” he wrote. In another post, Trump said he would also be slapping China with a 10 percent tariff, “above any additional Tariffs,” in response to what he said was its failure to tackle fentanyl smuggling. Tariffs are a key part of Trump’s economic agenda, with the Republican vowing wide-ranging duties on allies and adversaries alike while he was on the campaign trail. Both China and Canada issued swift responses, each calling their trade relationships with the United States “mutually beneficial.” “No one will win a trade war,” Liu Pengyu, a spokesman for China’s embassy in the United States, told AFP by email, defending Beijing’s efforts to curb fentanyl smuggling. “China believes that China-US economic and trade cooperation is mutually beneficial in nature,” Liu added. Canada said it was “essential” to US energy supplies, and insisted the relationship benefits American workers. “We will of course continue to discuss these issues with the incoming administration,” said the statement from Deputy Prime Minister Chrystia Freeland. Trump’s first term in the White House was marked by an aggressive and protectionist trade agenda that also targeted China, Mexico and Canada, as well as Europe. While in the White House, Trump launched an all-out trade war with China, imposing significant tariffs on hundreds of billions of dollars of Chinese goods. At the time he cited unfair trade practices, intellectual property theft, and the trade deficit as justifications. China responded with retaliatory tariffs on American products, particularly affecting US farmers. The US, Mexico and Canada are tied to a three-decade-old free trade agreement, now called the USMCA, that was renegotiated under Trump after he complained that the US businesses, especially automakers, were losing out. “Mexico and Canada remain heavily dependent on the US market so their ability to walk away from President-elect Trump’s threats remains limited,” Wendy Cutler, vice president at the Asia Society Policy Institute, and former US trade official, told AFP. By citing the fentanyl crisis and illegal immigration, Trump appeared to be using national security concerns as a means to break that deal, something that is usually allowed under the rules set by the World Trade Organization or in trade deals. But most countries and the WTO treat national security exceptions as something to be used sparingly, not as a routine tool of trade policy. Trump in 2018 cited national security justifications to impose tariffs on steel and aluminum imports that targeted close allies like Canada, Mexico, and the European Union. This led to retaliatory measures from the trading partners. Many economists have warned that tariffs would hurt growth and push up inflation, since they are primarily paid by importers bringing the goods into the US, who often pass those costs on to consumers. But those in Trump’s inner circle have insisted that the tariffs are a useful bargaining chip for the US to push its trading partners to agree to more favorable terms, and to bring back manufacturing jobs from overseas. Trump has said he will put his commerce secretary designate Howard Lutnick, a China hawk, in charge of trade policy. Lutnick has expressed support for a tariff level of 60 percent on Chinese goods alongside a 10 percent tariff on all other imports. William Reinsch, senior adviser at the Center for Strategic and International Studies, said that that move was classic Trump: “threaten, and then negotiate.” “In terms of what might actually happen, I’d bet on some China tariffs going into effect. That’s legally easier and politically more palatable,” he said. “On Canada and Mexico there was going to be a renegotiation of their trade deal (the USMCA) anyway in 2026.” [ad_2]){kind=link}
US President-elect Donald Trump mentioned Monday (25) he intends to impose sweeping tariffs on items from Mexico, Canada and China, prompting a swift warning from Beijing that “nobody will win a commerce battle.”
In a collection of posts to his Reality Social account, Trump vowed to hit a number of the United States’ largest buying and selling companions with duties on all items getting into the nation.
“On January twentieth, as certainly one of my many first Govt Orders, I’ll signal all essential paperwork to cost Mexico and Canada a 25 % tariff on ALL merchandise coming into the USA,” he wrote.
In one other submit, Trump mentioned he would even be slapping China with a ten % tariff, “above any extra Tariffs,” in response to what he mentioned was its failure to sort out fentanyl smuggling.
Tariffs are a key a part of Trump’s financial agenda, with the Republican vowing wide-ranging duties on allies and adversaries alike whereas he was on the marketing campaign path.
Each China and Canada issued swift responses, every calling their commerce relationships with the USA “mutually useful.”
“Nobody will win a commerce battle,” Liu Pengyu, a spokesman for China’s embassy in the USA, advised AFP by e-mail, defending Beijing’s efforts to curb fentanyl smuggling.
“China believes that China-US financial and commerce cooperation is mutually useful in nature,” Liu added.
Canada mentioned it was “important” to US vitality provides, and insisted the connection advantages American employees.
“We’ll in fact proceed to debate these points with the incoming administration,” mentioned the assertion from Deputy Prime Minister Chrystia Freeland.
Trump’s first time period within the White Home was marked by an aggressive and protectionist commerce agenda that additionally focused China, Mexico and Canada, in addition to Europe.
Whereas within the White Home, Trump launched an all-out commerce battle with China, imposing important tariffs on tons of of billions of {dollars} of Chinese language items.
On the time he cited unfair commerce practices, mental property theft, and the commerce deficit as justifications. China responded with retaliatory tariffs on American merchandise, significantly affecting US farmers.
The US, Mexico and Canada are tied to a three-decade-old free commerce settlement, now referred to as the USMCA, that was renegotiated below Trump after he complained that the US companies, particularly automakers, have been shedding out.
“Mexico and Canada stay closely depending on the US market so their means to stroll away from President-elect Trump’s threats stays restricted,” Wendy Cutler, vice chairman on the Asia Society Coverage Institute, and former US commerce official, advised AFP.
By citing the fentanyl disaster and unlawful immigration, Trump gave the impression to be utilizing nationwide safety considerations as a method to interrupt that deal, one thing that’s normally allowed below the principles set by the World Commerce Group or in commerce offers.
However most international locations and the WTO deal with nationwide safety exceptions as one thing for use sparingly, not as a routine instrument of commerce coverage.
Trump in 2018 cited nationwide safety justifications to impose tariffs on metal and aluminum imports that focused shut allies like Canada, Mexico, and the European Union. This led to retaliatory measures from the buying and selling companions.
Many economists have warned that tariffs would damage progress and push up inflation, since they’re primarily paid by importers bringing the products into the US, who typically cross these prices on to shoppers.
However these in Trump’s interior circle have insisted that the tariffs are a helpful bargaining chip for the US to push its buying and selling companions to comply with extra favorable phrases, and to deliver again manufacturing jobs from abroad.
Trump has mentioned he’ll put his commerce secretary designate Howard Lutnick, a China hawk, answerable for commerce coverage.
Lutnick has expressed help for a tariff stage of 60 % on Chinese language items alongside a ten % tariff on all different imports.
William Reinsch, senior adviser on the Heart for Strategic and Worldwide Research, mentioned that that transfer was basic Trump: “threaten, after which negotiate.”
“By way of what would possibly truly occur, I’d guess on some China tariffs going into impact. That’s legally simpler and politically extra palatable,” he mentioned.
“On Canada and Mexico there was going to be a renegotiation of their commerce deal (the USMCA) anyway in 2026.”
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