Trump Says He Will Impose 10% Tariffs on Chinese Imports on Feb. 1
The president said the planned duties were a response to China’s failure to curb fentanyl exports.
It Is Happening Every Day, Every Where
The president said the planned duties were a response to China’s failure to curb fentanyl exports.
North American car companies have operated across borders for three decades. Tariffs would raise prices and cost jobs in the short run, analysts say.
While much about the threatened tariffs is still unclear, experts predict they would be bad news for all three economies, with few winners.
President Trump wants an External Revenue Service to collect tariffs on imports. One trade expert said the move may be “more branding than substance.”
President Trump made major policy moves immediately after taking office, withdrawing from major international agreements, promising steep tariffs and pardoning nearly all of the Jan. 6 rioters.
The president’s executive action on trade will keep all possibilities on the table, including eventual tariffs against China, Canada and Mexico.
Tariffs and tax cuts amid high interest rates and lingering inflation will pose a test for the U.S. economy.
But economic, political and technological changes have left Canada with few ways to handle trade restrictions now.
A new poll found the public is sympathetic to the president-elect’s plans to deport migrants and reduce America’s presence overseas.
The president-elect’s vow to impose 25 percent duties on Canadian imports could ravage Canada’s auto industry and decimate Windsor, a city deeply tied to the U.S.