Washington – President Donald Trump plans to implement tariffs in Canada, Mexico and China on Saturday, and may start a trade war that would probably lead to price increases for food and numerous other products.
The Press spokesman for the White House, Karoline Leavitt, said on Friday that Trump would bring 25% tariffs for goods from Canada and Mexico to the United States and will bring in a 10% tariff for imports from China. Tariffs are paid for by companies that bring goods from other countries to the United States, and they often pass on the cost augment to consumers.
“The tariffs are in Canada tomorrow, and the reason is that both Canada and Mexico have both approved an unprecedented invasion of illegal fentanyl, the American citizens and also illegal immigrants killed in our country,” said Leavitt.
Trump has not yet decided whether he will later implement tariffs in the European Union 27 countriesAccording to Leavitt.
“I will not be ahead of the president in Zöllen when it comes to the European Union,” she said.
Trump later said on Friday from the Oval Office that he did not employ the tariffs as a negotiating instrument, but to augment revenue for the federal government and to steer fentanyl that flows into the country.
“We are not looking for a license. We will only see what happens, ”said Trump.
The novel tariffs are stacked through existing tariffs, he said.
Trump said he had additional tariffs to computer chips and “things that were added to chips”, oil and gas, steel, aluminum, copper, pharmaceuticals and “all forms of medicine”.
Trump said he would probably implement the oil and gas tariffs on February 18, but would not provide any data for the other tariffs.
Trump grazed a question of how tariffs would influence the prices, and said he was chosen to reduce inflation. He said he was not concerned about the reaction of the stock exchange on Friday afternoon to the upcoming tariffs.
Many economists, including those in conservative think tanks, such as the American Enterprise Institute, have warned to largely apply the tariffs in this way.
Phil Gramm, former Republican Chairman of the Senate Banking Committee and non -resident Senior Fellow near Aei, and Larry Summers, former finance minister during the Clinton government, wrote an op-e-ed published by Wall Street Journal Trump asked Trump on Thursday not to implement tariffs.
“Our United Opposition against non -defense -related tariffs is not based on our trust in free trade, but on proving that tariffs are harmful to the economy,” they wrote.
“Protection tariffs distort domestic production by causing domestic manufacturers to commit work and capital in order to produce goods and services that could have been acquired on the international market,” wrote Gramm and Summers. “This work and capital in turn are derived from the production of goods and services that could not be acquired internationally cheaper. Productivity, wages and economic growth decrease while prices are increasing. Customs and the retaliation measures they bring also poison our economic and security alliances. “
During the press conference, Leavitt said that only Trump could decide whether to ultimately raise or change the tariffs while he was grazing the potential effects of the US economy.
The Economic Research Service of the US Agriculture Ministry writes about his website that Canada and Mexico are “the first and third largest suppliers of the United States from the United States ($ 30.9 billion or $ 25.5 billion in 2017 to 21).
“Mexico provided the USA 31 percent of imported horticultural products such as fruit, vegetables and alcoholic beverages. Canada is also a source for horticultural products as well as grain and meat. “
The office of the United States’ sales representative writes about his website That the United States imported goods worth 562.9 billion in 2022 from China.
US -American agricultural exports to China, which could be affected by retaliation tariffs, amounted to $ 36.4 billion in the 2022 financial year. accordingly The foreign agricultural service of the USDA.
“The US exports have returned to the World Trade Organization (WTO) for trend growth since the joining of the People’s Republic of China (PRC), and in the past 2 years the United States has observed record export values for China for soybeans, corn, beef, beef, beef, beef . Chicken, tree nuts and Sorghum. Cotton exports to China have also recovered, which are powered by strong demand. All of these products contribute significantly to the US farm. “
Ashley Murray contributed to this report.
Last updated 5:27 p.m., January 31, 2025
