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President Donald Trump defended his decision on Sunday to impose large prices in Canada, Mexico and China, recognizing that they can cause “a certain pain”, but saying that “it was worth it” because taxes On importation have been largely sentenced by business groups and economists who warn that they will increase the prices of American consumers.
President Donald Trump speaks to journalists after having signed a series of decrees in the oval … (+)
Chronology
Mexican president Claudia Sheinbaum has published a video message on X announcing that the country will be released in more detail on Monday morning on its countermeasures against American prices, claiming that the country “will act with a cool head and love for the People “and arguing Trump’s statements’ claims of Trump’s claims on the Mexican government is an ally with criminal drug groups is” terribly irresponsible “, according to translations from Bloomberg and New York Times.
Trump’s tsar border, Tom Homan, told Times in an interview that Canada had “taken action” to respond to Trump’s concerns about immigration and drug trafficking, “but they didn’t take enough of measurements “, adding that while Canada” improves “its border security, Trump” does not feel like you have done enough, and it will be its call. “
The Canadian government has unveiled the full list of American imports on which the country will allow 25% prices within the framework of its reprisal measures against the United States, which will apply $ 30 billion in goods to start, Y Including many foods, plastics, rubber, luggage, wood, clothing, professional supplies, glassware, household appliances, furniture, cosmetics and more.
Internal security secretary, Kristi Noem, admitted “to meet the press” that Trump prices could increase prices, but said that the blame would come across other countries not to follow Trump’s requests, rather that the president, encouraging other countries to “get on board and ensure that they do not increase prices” and affirm “if prices increase, it is because of the reactions of others to American laws” .
Canada Ambassador Kristen Hillman told ABC News that Canadians were “perplexed” and “confused” by Trump’s prices on imports from the country and argued that it is “difficult to know what we can do more “to prevent prices since the Canadian government has already” supported “difficult” to appease Trump – but Canada does not intend to retreat from its plan of reprisals, because the Canadians “go s ‘Wait for our government to be firm and defends itself. »»
Doug Ford, the Prime Minister of the Canadian Province of Ontario, said that out of X, the only alcohol wholesaler in the region would remove American alcohol from its catalogs so that Ontario stores and restaurants do not May not store American liqueurs – he follows similar movements by the Prime Minister of Nova Scotia Tim Houston and British and British the Prime Minister of Columbia, David Eby, who prohibited the branch of the distribution of the alcohols of his province of Buy American alcohol from “red states”.
The president defended his decision, writing on Truth Social: “Will there be pain?” Yes, maybe (and maybe not!). But we will make America again excellent, and all this will be worth the price that must be paid. »»
Canada and Mexico have both allowed reprisals on American imports in response to the Trump directive, while China said it would take legal action with the World Trade Organization and would take on “Countermeasures” in response to this decision.
Trump imposed 25% prices on goods imported from Canada and Mexico – other than Canada energy, which will be taxed at 10% – and an additional 10% price on goods from China, which,, According to him, the countries were responsible for “responsible for their promises to stop illegal immigration and the stop of toxic fentanyl and other drugs to flow into our country. »»
Crucial quote
“Do your product in the United States and there are no prices!” Trump said on Truth Social to defend his prices. “We are a country that takes place now with common sense – and the results will be spectacular !!!”
When will Trump’s prices take effect?
Trump’s pricing order will take effect on Tuesday for the rights which are levied on imported goods, with the exception of any import which was already in transit before Trump commanded prices on Saturday. Hillman told ABC News on Sunday that the country was “full of hope” that the prices will not have effect and that the country’s government is “ready to continue talking to the Trump administration”, although it does not Not clear that Trump will negotiate at all on his plans.
What impact will Trump’s prices have on prices and the economy?
Trump’s prices on Canada, Mexico and China could actually cost each American household more than $ 830 in additional taxes in 2025, according to an analysis published by the center-right tax Foundation. The organization also predicted that Trump’s plan would reduce the economic production of the United States by 0.4% and increase taxes in the United States in all $ 1.2 billion between 2025 and 2034. The Trump pricing plan would have long warned the prices of American consumers – as import taxes are paid by American companies which import foreign goods, which then transmit these costs to the consumer by increasing prices – and an analysis of May by the non -partisan non -partner reflection group Peterson Institute for International Economics (PII) concluded that Trump imposing general prices on imported goods would be “(inflict) important collateral damage to the American economy. “Goldman Sachs economists led by Ronnie Walker previously planned in April that consumer goods prices would increase by 0.1% for each percentage of increase in effective rate rate and increase inflation. In addition to imported goods, economists have predicted that the price of indoor products will also increase, because American companies will increase prices “in an opportunistic way” to take advantage of less competition from imported products.
Will Trump impose more prices?
Trump suggested that he wanted to impose universal prices on the property of other countries, although it is still not clear when it could happen or what could all the wider prices look like. “I have it in my mind what it will be, but I will not define it yet, but it will be enough to protect our country,” said Trump about his plan to impose prices on all goods imported . The president told journalists on Friday that he planned to “do something substantial” in terms of taxation of European imports in particular, saying: “Will I impose prices on the European Union? Do you want the truthful answer or should I give you a political response? Absolutely, absolutely.
How did the business world respond to Trump’s prices?
Trade and manufacturing groups have criticized Trump’s prices, with the vice-president of the American Chamber of Commerce, John Murphy, saying that the decision “is unprecedented, will not solve these problems and will only increase the prices of American families and overthrow supply chains ”. The CEO of the National Association of Manufacturers, Jay Timmons Competitive Prix and put American jobs in danger. “The leaders of large companies have previously suggested that Trump prices will lead to higher prices for American consumers, Walmart’s financial director John David Rainey, told CNBC in November that import taxes mean” he There will probably be cases where prices will increase for consumers ”. The CEO of Best Buy, Coririe Barry, acknowledged the company’s profit call in November that most of its goods are imported from China and Mexico and that all prices would likely lead to higher prices, “said:” are goods that people need, and higher prices are not useful. “”
Key
Trump has long promised to impose prices on imported goods, even if economists and business leaders have moved. The president previously received higher prices on Chinese imports during his first mandate, which sparked a trade war with China before the two parties concluded a trade agreement in December 2019. While Trump had long promised on The campaign track to take prices on imported goods, it only offered 25% of prices on Mexican and Canadian goods in November, which marked an escalation on 10% at 20%, it proposed a pre- electoral. The order of the president on Sunday occurs after Trump declared on his first day of mandate that he planned to impose the prices on February 1, and imposed the broad prices with few restrictions despite previous reports suggesting that his administration planned to exempt certain imports or delay the prices until March.
Tangent
In his social articles of truth on Sunday, Trump also reiterated his desire that Canada becomes the “51st state”, saying that the country would not be “viable” without American subsidies. Making it an American state would mean “much lower taxes and much better military protection for the people of Canada – and no prices!” Trump said. Canadian officials have strongly criticized any suggestion that the country should be part of the United States, the Minister of Immigration, Marc Miller Trump), I think, to sow confusion, to agitate people, to create chaos in Knowing that it will never happen. »»
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