|
Getting your Trinity Audio player ready...
|
Donald Trump, the U.S. president-elect, has announced intentions to impose new tariffs on China, Mexico, and Canada starting January 20, following his inauguration. The proposed tariffs are aimed at pressuring these countries to address issues such as illegal immigration and drug smuggling into the United States.
Trump stated he would sign an executive order imposing a 25% tariff on goods from Mexico and Canada, while also planning a 10% tariff on Chinese imports. The move comes as part of his broader effort to tackle the flow of fentanyl, a deadly opioid, into the U.S., particularly from China.
In a post on his Truth Social platform, Trump asserted, “Both Mexico and Canada have the absolute right and power to easily solve this long-simmering problem. It is time for them to pay a very big price!” He also criticized China for failing to honor promises to impose harsher penalties on fentanyl dealers, particularly the death penalty, a claim that was swiftly denied by Chinese officials.
A spokesperson from the Chinese embassy in Washington dismissed Trump’s accusations, stating, “The idea of China knowingly allowing fentanyl precursors to flow into the United States runs completely counter to facts and reality.” The spokesperson emphasized the mutually beneficial nature of U.S.-China economic relations and warned against the harmful impacts of trade wars.
The Biden administration has also pressured China to stop fentanyl production, which has been linked to a significant rise in opioid-related deaths in the U.S. The proposed tariffs, however, may violate the U.S.-Mexico-Canada Agreement (USMCA), which Trump signed into law in 2020.
Mexico’s finance ministry responded by reaffirming the importance of USMCA, stating that it provides a framework of certainty for both national and international investors.
