Donald Trump threatens to impose 25% tariffs on Canada and Mexico on February 1
Donald Trump has announced that his administration will impose a 25% tariff on goods imported from Canada and Mexico beginning February 1.
The president, who was sworn in on Monday in Washington, also stated his intention to implement a 20% tariff on goods from all other countries.
Donald Trump plans to levy even higher tariffs on Chinese imports, setting the rate at 60%. The U.S. president intends to use these tariffs as leverage in trade negotiations, particularly with Denmark and Greenland.
"Americans benefit from and deserve an America First trade policy. Therefore, I am establishing a robust and reinvigorated trade policy that promotes investment and productivity, enhances our Nation’s industrial and technological advantages, defends our economic and national security, and — above all — benefits American workers, manufacturers, farmers, ranchers, entrepreneurs, and businesses," Donald Trump said.
Before his inauguration, the billionaire revealed that he had already prepared a series of executive orders to sign on his first day in the White House.
(QG - Source: CNN / © Picture by Gage Skidmore via Wikicommons under license creative commons cc-by-sa-2_0)