Trump Confirms March 4 Tariffs on Mexico, Canada; Imposes Extra Duty on China

President Trump declared that a 25% tariff on imports from Mexico and Canada will take effect on March 4 due to drug issues. Concurrently, he will impose an additional 10% tariff on Chinese goods, building on earlier tariffs introduced this month. Discussions aim to mitigate these tariffs with Mexican officials, while China’s response urges dialogue on trade concerns.

On Thursday, U.S. President Donald Trump confirmed that proposed tariffs of 25% on goods imported from Mexico and Canada will be enforced on March 4. He cited ongoing drug trafficking issues, particularly concerning the opioid fentanyl, as the primary reason for this decision. Additionally, Trump announced an extra 10% tariff on Chinese goods, compounding the previous 10% duty imposed on February 4, as part of his ongoing trade strategy.

In summary, President Trump’s announcement emphasized his commitment to addressing drug trafficking from Mexico and Canada through tariffs. The additional duties against China highlight his broader trade agenda. As discussions between U.S. officials and Mexican representatives occur, it remains to be seen how these tariff policies will evolve following an economic study due by April 1.

Original Source: www.usnews.com