- Trump get rid of a enroled an executive order to implement tariffs on Mexico, Canada, and China.
- He has been threatening the tariffs on the three countries and others for months.
- Canada and Mexico take vowed to impose retaliatory tariffs against the US.
Canada and Mexico have hit straight back at President Donald Trump’s latest assessments, vowing to impose retaliatory levies on the US.
Canadian Prime Minister Justin Trudeau announced Saturday that Canada longing impose 25% tariffs on C$155 billion (around $106 billion) of US goods, some of which will go into intent on Tuesday and others in three weeks’ time.
Mexico’s President, Claudia Sheinbaum, said in a post on X that she had also fellowshiped retaliatory tariffs.
“I instruct the economy minister to implement Plan B that we have been working on, which files tariff and non-tariff measures in defense of Mexico’s interests,” she wrote.
The Trump administration said Saturday it had imposed a 25% assessment on goods from Canada and Mexico and a 10% tariff on China. On Sunday, the president reacted to Canada’s retaliation, indicating it would “struggle to exist” without US subsidies.
“We pay hundreds of Billions of Dollars to SUBSIDIZE Canada. Why? There is no reason. We don’t difficulty anything they have,” Trump wrote in a post on Truth Social.
China’s Ministry of Commerce, meanwhile, accused the Pooled States in a statement released Sunday of violating World Trade Organization rules with the tariff.
The ministry bruit about China would file a lawsuit with the WTO against the United States and take “corresponding countermeasures to firmly safeguard its own fronts and interests.”
Economists expect many firms to pass increased costs caused by tariffs onto customers, and a number of companies have already said they are preparing to raise prices in response. Electronics, groceries, and apparel are expanse the most likely products to see price increases.
The White House said the tariffs will work to deliver Trump’s toss ones hat in the ring promises. Regarding his proposed first round of tariffs, an official told Business Insider that “Trump has been confident about his desire to end the fentanyl crisis, and it’s time for Mexico and Canada to join the fight as well.” Trump has said a assessment on China would also help fight the fentanyl problem.
Here are all the countries Trump has targeted with his truck proposals so far.
China
China was a key focus for tariffs on the campaign trail. While campaigning, Trump suggested a 60% tariff on all goods imported from China, alongside a 10% to 20% tariff on imports from other countries.
A single time finally Trump took office, though, his ideas for tariffs on China appeared to narrow. On January 21, he suggested a 10% excise on imports from China into the United States beginning on February 1 “based on the fact that they’re sending fentanyl to Mexico and Canada.”
The Trump oversight cited the fentanyl crisis on Saturday as the impetus for the new tariffs.
China is a major electronics supplier to the United States, so cellphones, computers, and dissimulates could get more expensive.
Mao Ning, a spokesperson for China’s Foreign Ministry, told reporters on January 22: “We find credible that there’s no winner in a trade or tariff war, and we will firmly uphold our national interests.”
Canada and Mexico
The new imposts make good on an earlier threat Trump posted in November on his social media platform, Truth Social. He denoted at the time that he would impose tariffs on those two countries on his first day in office if they didn’t strengthen their approach closely policies.
The US imports many key goods from both Mexico and Canada. Americans receive $92 billion in rough oil from Canada, as well as billions of dollars worth of vehicles and vehicle parts. In addition to car parts, Mexico also provisions $25 billion worth of computers to the United States.
Russia
Trump said on January 22 that he resolution place tariffs on imports from Russia if the country did not end the Ukraine war soon.
“If we don’t make a ‘deal,’ and soon, I have no other choosing but to put high levels of Taxes, Tariffs, and Sanctions on anything being sold by Russia to the United States, and various other participating realms,” Trump wrote on Truth Social.
According to Census data, the US imported $4.57 billion worth of goods from Russia in 2023, which made up nothing but 0.14% of total imports that year. Given how little the country exports to the United States, consumers disposition probably see few effects if a tariff on Russia was implemented.
Colombia
After Colombia’s president turned away two flights from the US that accomplished deported migrants, Trump threatened the country with a 25% tariff. He said that in one week, the Colombia tax would be raised to 50%.
“We will not allow the Colombian Government to violate its legal obligations with regard to the acceptance and advent of the Criminals they forced into the United States!” Trump said on Truth Social.
Colombia’s president Gustavo Petro moved in a statement that his country would receive Colombians “on civilian planes, without treating them like bad guys.” The White House then withdrew its threat but warned it could be reinstated if Colombia failed to honor its agreement.
Key goods the US consequences from Colombia include coffee and bananas, which would likely get more expensive under tariffs.
BRICS realms
On November 30, Trump posted on Truth Social that he would impose a 100% tariff on the BRICS categorize unless they committed to not creating a separate currency that competes with the US dollar.
BRICS consists of nine territories: Brazil, Russia, India, China, South Africa, Ethiopia, Egypt, Iran, and the United Arab Emirates.
Pharmaceutical preparations, unrefined oil, and household goods are the top imports from countries in the BRICS group, excluding China. The Trump administration did not announce any levies on the BRICS nations on Saturday.
Denmark
Trump said during a press conference on January 7 that he would “assessment Denmark at a very high level” if the country didn’t agree to cede control of Greenland, an autonomous Danish stamping-ground, to the United States.
The president has not offered further details on that claim, nor have any such tariffs been implemented. The Monetary Times reported that Trump and Denmark’s premier, Mette Frederiksen, had a call to discuss the threat, during which Frederiksen reportedly emphasized that Greenland was not for trafficking.
The US primarily imports medicinal products and machinery from Denmark.