Trump proposes tariffs on Mexico, Canada and China

Thùy Trang |

President-elect Donald Trump has pledged to impose new tariffs on America's largest trading partners, Canada, Mexico and China.

President-elect Trump said he would impose a 25% tariff on all goods from Mexico and Canada to force these countries to increase control over drug trafficking, fentanyl precursors and prevent illegal immigration into the US. He stressed: "It's time for them to pay a big price!"

On the social network Truth Social, Mr. Trump wrote: "On January 20, one of my first executive orders will be to impose a 25% tax on all products from Mexico and Canada imported into the United States."

Regarding the above information, the Mexican Ministry of Finance said: "Mexico is a leading trading partner of the United States and the new Trade Agreement between the United States, Mexico and Canada (USMCA) provides a solid framework for domestic and international investors."

The tax rates that Mr. Trump set out seems to violate the terms of USMCA.

On the Chinese side, Mr. Trump also proposed an “additional 10% tariff” to be applied to goods from this country. Mr. Trump also accused China of not taking timely actions to prevent fentanyl precursors from flooding into the US.

President-elect Trump also said he might end China's most-favored-nation trade status with the United States - the most favorable status Washington has offered on tariffs and other restrictions on Beijing.

Sharing the above information with BBC, Mr. Liu Bang Vu, spokesman for the Chinese Embassy in Washington, denied the accusation that China was involved in the import of fentanyl precursors into the US.

“China believes that China-US economic and trade cooperation is win-win in nature. No one will win in a trade war or a tariff war,” Liu added.

Tariffs are a core part of Mr Trump’s economic vision, which he sees as a tool to boost the US economy, protect jobs and raise tax revenue.

During his election campaign, Mr. Trump threatened Mexico and China with tariffs of up to 100%, if he deemed necessary, much higher than the tariffs he imposed during his first term in office.

However, this is almost evaluated by economists, especially in the context that the country is struggling with a number of serious problems including the real estate market crisis, low domestic demand and increasing local authorities.

Thùy Trang
TIN LIÊN QUAN

Trump's son's role in cabinet building

|

Donald Trump's son plays a key role in building the president-elect's new cabinet.

Trump's ability to end the Russia-Ukraine conflict

|

After Donald Trump was elected US president, hopes for an end to the Russia-Ukraine conflict with a peaceful solution have increased.

Revealing the personnel Mr. Trump chose for the position of Secretary of the Treasury

|

President-elect Donald Trump has chosen billionaire Scott Bessent for the position of Treasury Secretary.

Ukrainian UAVs attack up to 1,300 km into Russian territory

|

Several Russian cities have been targeted in a series of new attacks by Ukraine.

Look up the fastest 10th grade entrance exam scores in 2025 in Hanoi

|

The Hanoi Department of Education and Training (DET) plans to announce the 10th grade entrance exam scores for the 2025-2026 school year on July 4.

Thailand has an interim prime minister

|

After the Constitutional Court suspended Thai Prime Minister Paetongtarn Shinawatra from office, Suriya Deputy Prime Minister Jungrungreangkit became acting Prime Minister.

The former Vice Chairman of the People's Committee of Ba Ria - Vung Tau province becomes the new Deputy Secretary of the Ho Chi Minh City Party Committee

|

HCMC - Mr. Dang Minh Thong - Vice Chairman of the People's Committee of Ba Ria - Vung Tau province (old) was appointed to the position of Deputy Secretary of the new Ho Chi Minh City Party Committee.

The Ministry of Finance requests clarification on the case of cutting down trees, what did Secretary Ayun Pa say?

|

Gia Lai - The Secretary of Ayun Pa Ward affirmed that he will require agencies and units to strictly manage public assets, especially urban trees.

Trump's son's role in cabinet building

Thùy Trang |

Donald Trump's son plays a key role in building the president-elect's new cabinet.

Trump's ability to end the Russia-Ukraine conflict

Thùy Trang |

After Donald Trump was elected US president, hopes for an end to the Russia-Ukraine conflict with a peaceful solution have increased.

Revealing the personnel Mr. Trump chose for the position of Secretary of the Treasury

Thanh Hà |

President-elect Donald Trump has chosen billionaire Scott Bessent for the position of Treasury Secretary.