Constellation Research founder R 'Ray' Wang discusses a Taiwanese semiconductor manufacturer that announces a $100 billion investment in the US and explains why he is not buying dips in the market.
Mexican President Claudia Sinbaum said “no one wins” with the new 25% tariffs on goods from her country in the Trump administration, adding that she is scheduled to announce retaliatory tariffs against the United States this weekend.
“There is no reason, theoretical or justification to support this decision that affects our people and our nation. …No one wins this decision,” Sheinbaum said at a press conference.
The US began impose 25% tariffs on goods from Canada and Mexico on Tuesday, and began to impose an additional 10% collection on Chinese imports as President Donald Trump seeks to cut down on drug trafficking and illegal immigration.
“In the last 30 days, decisive action has been taken against bilateral meetings on organized crime and fentanyl trafficking, as well as security and trade,” Sinbaum said.
Trump's tariffs are valid: What do you know?
President Claudia Sheinbaum will hold a press conference on March 4th to announce the response to US tariffs at the National Palace in Mexico City. (Raquel Cunha/Reuters)
“We are working together to avoid illegal drug trafficking to the United States, but as I said on multiple occasions, the government of that country must also be held accountable for the opioid consumption crisis that caused so many deaths in the United States,” she added, according to the Associated Press.
“It's hard to imagine that they don't think about the damage this will cause to US citizens and businesses due to the rising prices that this has been produced in our country,” the AP said. “The damage caused by halting job creation in both countries.”
Trudeau says Canada will retaliately issue a 25% tariff on American goods
President Donald Trump will speak to media members before he boards the Marines at the White House on February 28th. On Tuesday, the Trump administration imposed tariffs on Canada and Mexico. (Nathan Howard/Reuters)
Earlier this year, the administration delayed these tariffs, allowing time in Canada and Mexico to negotiate trade deals aimed at addressing US border security and stopping the flow of drugs like fentanyl.
Then last week, Trump reaffirmed his decision to impose taxes, saying in a post about True Society that “drugs are still poured into our country from Mexico and Canada at very high and unacceptable levels.”
Canadian Prime Minister Justin Trudeau said his country In response to Trump administration's tariffs on his country, he issues a 25% tariff on American goods. (/Getty Images)
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Sinbaum said Tuesday that it will announce Mexico's response to tariffs, including retaliatory tariffs, during this Sunday event in Mexico City.
Daniella Genovese of Fox Business contributed to this report.
