President-elect Donald Trump said he would impose additional 10% tariffs on goods from China and 25% tariffs on all products from Mexico and Canada, citing the levies as necessary to clamp down on migrants and illegal drugs flowing across US borders.
After catching you up on the news of the week in the Briefs segment, Amanda Lang checks in with David Paterson, Ontario’s representative in Washington, D.C. for a lookahead to trade discuss between the two countries and MexicoPresident-elect Donald Trump vowed additional tariffs on China as well as US neighbors Canada and Mexico, roiling markets with his first specific threat to curb global trade flows since his election win.
In another post, the incoming president also vowed to hit Mexico and Canada with a 25% tariff on “ALL products,” saying he would sign an executive order to that effect on his first day in office. Trump campaigned on pledges to implement sweeping tariffs on allies and adversaries alike, vowing to hike tariffs to 60% for all goods imported from China and to 20% for those brought in from the rest of the world — policies he says will help pressure companies to re-shore manufacturing jobs in the US and raise revenue for the federal government.
The Republican has long said he favors tariffs as a negotiating tool, even with US partners, and during the presidential campaign in 2024, he mused about replacing the federal income tax with revenue from trade levies. Most mainstream economists though have warned that Trump’s levies would raise prices for consumers, fueling already high inflation and redirecting or reducing trade flows.
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