Trump to impose tariff hikes on China, Canada, Mexico on Day 1 in office

Washington: US President-elect Donald Trump announced on Monday that he intends to impose a 25% tariff on all goods from Mexico and Canada on his first day in office unless they take immediate action to stop the flow of illegal immigrants and fentanyl drugs into the United States.

Trump also revealed that he plans to levy a 10% tariff on goods from China, in addition to existing tariffs, if the country fails to take decisive steps to halt the shipment of fentanyl to the US.

In his announcement, Trump reiterated his campaign pledge to use tariffs as a tool to protect US interests. However, economists have warned that such tariffs could raise prices in the US, as companies importing goods or manufacturing products in the targeted countries may pass on the cost to American consumers.

On his social media platform, Truth Social, Trump stated that on January 20, as one of his first executive orders, he would sign documents imposing a 25% tariff on all products from Mexico and Canada. He insisted that these tariffs would remain in place until both countries take effective action to stop the flow of fentanyl and illegal immigrants into the United States, calling the current border situation an “invasion.” He further emphasized that both nations have the power to solve this issue and demanded that they do so, warning that they would face significant financial consequences until the problem is addressed.

In a separate post on Truth Social, Trump targeted China, claiming that despite multiple discussions, the country had failed to take action against the illegal fentanyl trade. He criticized China for not following through on threats of severe penalties, including the death penalty, for drug dealers. Trump stated that due to China's inaction, the US would impose an additional 10% tariff on all Chinese products entering the country, on top of existing tariffs, until China halts the illegal fentanyl trade.

Illegal immigration and drug-related issues, particularly the fentanyl crisis, were central themes of Trump’s presidential campaign. Fentanyl, a synthetic opioid, has been linked to a dramatic rise in overdose deaths in the US. According to the US Centers for Disease Control and Prevention (CDC), nearly 74,000 drug overdose deaths in 2022 involved synthetic opioids like fentanyl, marking a nearly five percent increase from the previous year.

Trump’s announcement signals a continuation of his tough stance on immigration and drug control, with significant economic implications for the US’s trade relationships with China, Mexico, and Canada.

With IANS inputs