Trump pledges big tariffs on China, Canada, Mexico starting January 20
On Monday, President-elect Donald Trump announced plans to impose significant tariffs on key trading partners, including Mexico, Canada, and China. He outlined these intentions in a series of posts on Truth Social, calling for a 25% tariff on all goods from Mexico and Canada, and a 10% tariff on Chinese imports.
Trump pledged to sign the necessary executive orders on January 20, his first day in office. He cited issues like illegal immigration and drug smuggling, particularly the fentanyl trade, as the main reasons for the tariffs. “I will charge Mexico and Canada a 25% tariff on ALL products entering the US,” he wrote, blaming “ridiculous Open Borders” for the country’s issues. He also targeted China, calling for a 10% tariff on all its products, in addition to any existing tariffs, due to its failure to address fentanyl smuggling.
Tariffs have been a central component of Trump’s economic agenda. During his campaign, he promised to use them as a tool to renegotiate trade deals and bring manufacturing jobs back to the US. However, many economists have raised concerns, warning that tariffs could harm economic growth and increase inflation. Importers, who would pay the tariffs, are likely to pass the costs onto consumers, driving up prices.
Despite these warnings, Trump’s supporters argue that the tariffs will act as leverage to secure better trade agreements and protect US industries from foreign competition. As he prepares to take office, Trump’s hardline stance on tariffs remains a cornerstone of his broader economic strategy.
