President-elect Trump announced Monday that he will impose new tariffs on products from Canada, Mexico and China through an executive order on the first day of his new term next year.
in series of posts At Truth Social, the president-elect said he would impose a 25% tariff on all Canadian and Mexican products and an additional 10% tariff on all Chinese products. Many are already subject to tariffs imposed during President Trump's first term.
President Trump said the new tariffs are intended to strengthen border security and encourage stronger efforts from the three countries to crack down on fentile exports to the United States.
“Both Mexico and Canada have the absolute right and authority to easily resolve this long-simmering problem. We hereby demand that they exercise this authority. Until they do so, It's time to pay a big price!'' Trump Posted on Truth Social.
During his campaign, President Trump pledged to impose import taxes of 10% to 20% on all foreign products and up to 60% tariffs on Chinese products. Canada, Mexico, and China are the United States' largest trading partners.
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