Just hours after taking office as US president, Donald trump has threatened to impose tariffs on products from Canada, Mexico, and China as early as February.
Trump who disclosed this while speaking at the White House as signs various orders shortly after his inauguration said “We’re thinking in terms of 25 per cent on Mexico and Canada, because they’re allowing a vast number of people to come in.”
According to Trump the tariffs of 25 per cent on products from Canada and Mexico could be introduced as early as February 1, referring to the potential start date for the tariffs.
Meanwhile, The Wall Street Journal had earlier reported that Trump did not intend to impose tariffs on trading partners like Canada, Mexico, and China.
Instead, he planned to instruct the authorities to assess trade relations with China and its neighbors on the North American continent, the Wall Street Journal reported, citing a summary of a planned memorandum and Trump’s advisers.
There are also fears in the EU that Trump could impose new tariffs.
Tariffs are a type of surcharge on imported goods. They are paid as goods enter the country.
Recall that, Trump imposed a range of tariffs on imported goods during his first term in office from 2017 to 2021
