President Trump warned of tariffs on Canadian and Mexican imports starting February 1st, citing concerns over illegal immigration and fentanyl trafficking. He also vowed to impose tariffs on the European Union and discussed a 10% duty on Chinese imports due to fentanyl flowing through Mexico and Canada. Trump's threats, while causing some market relief after his initial presidency, underscore his push for broader tariffs and a February 1st deadline for duties on Canada, Mexico, China, and the EU.
President Donald Trump said on Monday that tariffs on Canadian imports could come on Feb. 1. The Globe’s Shannon Proudfoot discusses what impact the uncertainty around tariffs is having in Canada and how it may be a negotiating gambit by Mr. Trump .U.S. President Donald Trump on Tuesday vowed to hit the European Union with tariffs and said his administration was discussing a 10 per cent punitive duty on Chinese imports because fentanyl is being sent from China to the U.S. via Mexico and Canada .
Trump said on Monday that he was considering imposing the duties on Canada and Mexico unless they clamped down on the trafficking of illegal migrants and fentanyl, including precursor chemicals from China, across their U.S. borders. “The reason why he’s considering 25, 25 and 10 , or whatever it’s going to be, on Canada, Mexico and China, is because 300 Americans die every day” from fentanyl overdoses, Navarro said.Trump on Monday signed a broad trade memorandum ordering federal agencies to complete comprehensive reviews of a range of trade issues by April 1.
Trump’s more measured approach to tariffs fuelled a rally in U.S. stocks that pushed the benchmark S&P 500 index to its highest level in a month, though Trump’s new salvo on China and the European Union may deflate that momentum.
TRUMP TARIFFS CANADA MEXICO CHINA EUROPEAN UNION FENTANYL TRADE
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