Trump’s Tariffs on Fentanyl: A Continuous Pressure on Trade Partners

President Trump is set to continue tariffs on Mexico, Canada, and China over fentanyl issues, as stated by Commerce Secretary Howard Lutnick. He confirmed the 25% tariffs on steel and aluminum will start soon, countering recession fears. While prices on foreign goods may rise, American products are expected to become cheaper.

United States President Donald Trump intends to continue enforcing tariffs on Mexico, Canada, and China due to concerns surrounding their response to fentanyl. According to US Commerce Secretary Howard Lutnick, these tariffs will persist as a form of pressure until the issue of fentanyl is adequately addressed. In an interview with NBC’s “Meet the Press,” Lutnick remarked that the situation is clear-cut, emphasizing the necessity of saving American lives.

Lutnick confirmed that the 25% tariffs on steel and aluminum imports will commence as scheduled on Wednesday, noting that Canada and Mexico are significant exporters of these metals to the United States. Canada, in particular, is the primary source of aluminum imports for the US market. Lutnick also countered concerns regarding a potential recession resulting from Trump’s tariffs, firmly stating, “Absolutely not. There’s going to be no recession in America.”

While addressing consumer implications, he acknowledged that the imposed tariffs would lead to increased prices for foreign-made goods. However, he assured that American-made products would become less expensive as a result, which is the intended objective of this tariff strategy.

In summary, President Trump’s administration, represented by Commerce Secretary Howard Lutnick, will maintain its tariff strategy against Mexico, Canada, and China until effective measures against fentanyl are implemented. While the tariffs are set to increase prices on imported goods, Lutnick remains optimistic about the absence of recession, highlighting that American products may become more competitively priced as a result.

Original Source: www.business-standard.com