President Trump will implement a 25% tariff on Mexican and Canadian goods starting March 4, citing drug import issues, along with an additional 10% tariff on China. Despite earlier confusion about the timeframe, tariffs are confirmed to proceed as planned, while negotiations continue with Mexico and Canada to possibly avert them.
U.S. President Donald Trump reaffirmed on Thursday that he will implement a proposed 25% tariff on goods imported from Mexico and Canada, effective March 4. He cites the ongoing influx of illegal drugs, particularly fentanyl, as justification for these tariffs. Additionally, Trump announced a supplementary 10% tariff on Chinese goods, augmenting a prior 10% duty imposed on February 4.
In a statement on his Truth Social media platform, Trump emphasized, “We cannot allow this scourge to continue to harm the USA, and therefore, until it stops, or is seriously limited, the proposed TARIFFS scheduled to go into effect on MARCH FOURTH will, indeed, go into effect, as scheduled.” He also stated that China would face an additional tariff on the same date.
The President’s clarification addressed previous uncertainties regarding the tariff deadlines. Earlier comments during a cabinet meeting led to speculation about a potential delay until April 4. However, the Trump administration clarified that the April deadline pertains to reciprocal tariffs aligned with tariffs imposed by other nations, particularly in relation to European value-added taxes.
Kevin Hassett, the top economic adviser, indicated on CNBC that the President will finalize tariff decisions following a study due on April 1, with specific reference to tariffs on Mexico and Canada. On the diplomatic front, Mexican Economy Minister Marcelo Ebrard is set to engage with U.S. Trade Representative Jamieson Greer and Commerce Secretary Howard Lutnick in talks aimed at contesting these tariffs.
In Canada, Public Safety Minister David McGuinty expressed confidence that Canada’s measures to bolster border security and combat drug trafficking will meet the expectations of the Trump administration. Meanwhile, China has communicated a desire for dialogue regarding trade issues, promoting consultation as a means toward resolution.
President Trump’s planned tariffs on Mexico, Canada, and China are primarily driven by concerns over drug imports and border security. The tariffs are scheduled to take effect on March 4, despite earlier indications of a possible delay, and negotiations are ongoing in an effort to prevent their implementation. The situation underscores the complexities of U.S. trade relations, particularly with neighboring countries and China.
Original Source: www.usnews.com
