President Trump will retain tariffs on China, Mexico and Canada due to their fentanyl management. Commerce Secretary Lutnick stated that both the tariffs and associated costs to consumers will persist until fentanyl issues are adequately addressed, claiming no risk of recession as a result.
United States President Donald Trump will continue to impose tariffs on Mexico, Canada, and China due to their management of fentanyl, as stated by US Commerce Secretary Howard Lutnick on Sunday. He expressed, “If fentanyl ends, I think these will come off. But if fentanyl does not end, or he’s uncertain about it, he will stay this way until he is comfortable,” highlighting the gravity of the opioid crisis that necessitates these actions.
In summary, President Trump’s administration will maintain tariffs on specific countries in relation to fentanyl issues until significant changes occur. While Commerce Secretary Howard Lutnick emphasized that there is no recession anticipated due to these tariffs, he acknowledged potential price increases for foreign goods, suggesting that this would ultimately favor American products.
Original Source: www.business-standard.com
