US President Donald Trump looks as he signs an executive decree at the White House Oval Office in Washington, the United States on January 31, 2025.
Carlos Barria | Reuters
US President Donald Trump goes forward with longtime import prices on Canada, Mexico and China goods.
On Saturday, the main trade and manufacturing advisor of the Trump administration, Peter Navarro, confirmed that the president required 25% prices on imports from Mexico and Canada, as well as a 10% obligation on China. Canada’s energy resources will have a less than 10%rate.
We do not know when the new functions will take effect. The provisional plan was that they were implemented on Tuesday.
Prices are rights imposed on foreign goods which are paid by American importers. Economists are largely opposed to prices, arguing that they cause higher prices for national consumers.
But Trump has long promoted prices as a means of negotiating better agreements with American trade partners, protecting the national foreign competition industries and gaining income.
On Friday, in the oval office, Trump said that his decision to slap prices on the goods of Canada, Mexico and China was “pure economic”.
He referred to the trade deficits of the United States with the three nations, but also underlined fentanyl, accusing the three accomplices of the deadly propagation of opioids in the United States
Trump then promised to impose new or additional prices on many other categories of foreign products, including micropuits, oil and gas, steel, aluminum, copper and pharmaceutical products, including “All forms of medicine”.
Later in his remarks, Trump said that he was going “absolutely” to slap the prices on the European Union.
—The Kevin Breuninger of CNBC contributed the reports.
This is a news. Please update updates.
