President Trump plans to impose tariffs on Canada and Mexico on March 4, alongside doubling tariffs on China. He cited drug smuggling as a primary reason for the tariffs, which could lead to higher inflation and impact the automotive industry. Additional tariffs on specific goods will follow in April.
President Donald Trump has announced that tariffs will be imposed on Canada and Mexico starting March 4. In addition, he will double the existing 10 percent tariffs on Chinese imports. Trump stated that these import taxes are necessary to combat the illegal smuggling of drugs, particularly fentanyl, entering the United States at alarming rates.
The imposition of tariffs by President Trump aims to address illegal drug trafficking and may significantly impact the economy, particularly concerning inflation and the automotive sector. The President remains committed to pursuing broad tariffs on various imported goods while emphasizing the need for reciprocal trade measures.
Original Source: www.pbs.org
