- Industry and business leaders react to President Donald Trump’s last rates.
- The Trump administration said on Saturday that it had imposed new samples in Canada, Mexico and China.
- The three countries have sworn to retaliate, threatening a trade war.
The billionaires, the leaders of the industry and the leaders react to President Donald Trump’s prices against Canada, Mexico and China.
The Trump administration said on Saturday that it had imposed a 25% rate on goods from Canada and Mexico and a 10% tariff on China.
The announcement sparked rapid responses from the three countries. Canada and Mexico have promised reprisals, and China has promised “corresponding countermeasures”.
Trump says prices are necessary to put pressure on Mexico, Canada and China to do more to stem the illegal fentanyl flow in the United States. The drug addiction and overdoses linked to fentanyl, a synthetic opioid, have seized the United States for years, digging the cities and districts of the city throughout the country. The drug is often produced in China and smuggling on American borders.
“Trump takes daring measures to keep Mexico, Canada and China responsible for putting an end to illegal immigration and stopping toxic fentanyl and other drugs to flow into our country,” said on Saturday The White House in a press release.
Business leaders, however, urge Trump to reconsider, fearing a world trade war that could wreak havoc on the American industries.
Mark Cuban, billionaire entrepreneur
In an article on Bluesky, Cuban warned that new samples would cost people money and would injure companies.
“I’m going to put my rich hat and say that I hope that Mexico and Canada emit equal reprisals and that I stand for an extended period,” Cuban wrote.
“I apologize to everyone, it will cost money and companies that it will hurt. But it is the only way for the prices to see what they are.”
Tobi Lütke, CEO of Shopify
In an article on X, Lütke, the CEO of the Canadian firm Shopify, said that he was disappointed with American rates and the government’s response.
Canadian Prime Minister Justin Trudeau said Canada would impose $ 155 billion Canadian dollars (approximately $ 106 billion) of American goods following the Trump administration.
But Lütke said that hitting his back “would not lead anything to something good”.
“Canada thrives when it works with America together. Win while helping America win,” he wrote. “These prices will be devastating for so many people and small businesses.”
Ricardo Salinas Pliego, Mexican billionaire
Pliego, president of the retail and banking conglomerate Grupo Elektra, criticized the prices in a series of messages on X, but said that Mexico should not retaliate.
“While things arise, there is nothing else to do than to endure this misfortune that is imposed on us,” he wrote. “Perhaps, with the passage of time, the more prepared and sensible minds will prevail in the United States and things will change, but it is not in our hands.”
“What we certainly should not do is play the” Hero Boy “and throw ourselves into the void, putting more taxes on Mexican citizens, who are already screwed by Trump’s actions”, a- he added.
Aluminum association
The aluminum association urged Trump to exempt Canada from prices, saying that it was essential to help protect jobs and local manufacturers.
In a press release on Saturday, Charles Johnson, president and chief executive officer of the association, which represents aluminum production and jobs in the United States, praised Trump’s efforts to “support American manufacturing”, but has declared that the force of industry was based on imports from the North.
“Thanks to a robust domestic demand and future investments, the American aluminum industry needs a stable and predictable supply of primary, secondary aluminum and scrap,” said Johnson. “Today, a large part of this metal comes from North American trade partners, especially from Canada.”
United Steelworkers
The USW, representing 850,000 metal workers, mining and other industries, also called Trump to reconsider prices in Canada.
In a statement, the international president of the USW, David McCall, said that the union had “long called for a systemic reform of our broken trade system, but that it is unleashed in key allies like Canada is not the way to follow “.
“Canada has proven to be many times as one of our strongest partners in terms of national security, and our savings are deeply integrated,” said the press release.
National Association of Manufacturers
The president and chief executive officer of NAM, Jay Timmons, said that the manufacturers were already faced with increasing pressure pressures and that the last rates in Canada and Mexico threatened “to upset the supply chains that we have made more competitive worldwide “.
“The training effects will be serious, especially for small and medium manufacturers,” added Timmons. “In the end, manufacturers will bring the weight of these prices, undergoing our ability to sell our products at a competitive price and put American jobs in danger.”
National Association of House Manufacturers
The NAHB said that prices in Canada and Mexico could increase construction costs and ultimately lead to an increase in house prices.
“More than 70% of imports of two essential materials on which house manufacturers count – wood and gypsum (used for dry partitions) – Canada and Mexico, respectively,” said the president of NAHB, Carl Harris, in a press release.
“Nahb urges the administration to reconsider this action on the prices.”