Trump pledged on Friday to impose a semiconductor chip, pharmaceutical, steel, aluminum, oil and gas.
“We are doing pharmaceuticals. The important thing is drugs and medicines. Every form of medicine and pharmaceuticals,” Trump said. “And we are very important, we are doing steel, and we are related to chips and chips.”
President said he was paying attention on February 18 to impose tariffs on oil and gas. He also stated that the import of crude oil in Canada would be charged with tariffs at 10 %, but other Canadian products would have 25 % of tariffs.
He did not provide an accurate date, but informed that other tariffs would be imposed in the next few weeks.
Trump also told an elliptical office that he would have a tariff on products from the European Union.
“They are treating us terribly,” Trump said about the EU.
Trump's threat came one day before his administration plans to enact product duties from Canada, Mexico, and China.
Trump has acknowledged reporters that tariffs could cause consumers a “short -term turmoil.” But he claimed that it would lead to long -term profits to the US manufacturing industry.
“Credit does not cause inflation. Customs duties can cause success,” said Trump. “There may be temporary short -term confusion, and people understand it.”
The stock market fell on Friday after the White House revealed that the tariffs in Canada, Mexico and China were not delayed.
There are two Mexico and CanadaTop Trading PartnerUS and experts have warned that customs duties could lead to the rise in the price of American consumers in specific products.
