In the double-digit vary: Trump proclaims punitive tariffs on imports from Mexico and Canada | EUROtoday

US President-elect Donald Trump desires to impose punitive tariffs on imports from Mexico and Canada as considered one of his first acts in workplace. He will signal a corresponding decree on the day he takes workplace on January twentieth, Trump wrote on Monday within the quick message service Truth Social. Accordingly, all merchandise from the 2 neighboring international locations needs to be topic to a tariff of 25 %. Trump justified the transfer with unlawful drug and human smuggling throughout the border. The tariffs ought to stay in pressure till each international locations take decisive motion to handle these issues.

Experts warn that such a measure may have a major impression on North American commerce and doubtlessly result in retaliation from affected international locations. The announcement additionally raises questions on the way forward for the United States-Mexico-Canada Free Trade Agreement (USMCA), which got here into pressure in 2020.