Thu, 27 Feb 2025

Thu, 27 Feb 2025 Trump says US will impose additional 10% tariff on China

He also said he would move ahead with 25% tariffs on imports from Mexico and Canada, which had been paused.

* Donald Trump plans to impose a new 10% tariff on goods from China, which will be in addition to existing tariffs.
* Trump also intends to move forward with 25% tariffs on imports from Canada and Mexico, set to take effect on March 4.
* The US President believes that not enough action has been taken to address the flow of fentanyl into the US from Mexico and Canada.
* Mexican President Claudia Sheinbaum said in response that Trump's comments were "his way of communicating" and expressed hope for a deal to be reached by March 4.
* Canadian Prime Minister Justin Trudeau warned that tariffs from the US would prompt an "immediate and extremely strong response".
* Leaders of Mexico and Canada have previously stated that they would impose retaliatory tariffs on the US if the White House goes ahead with its plans.
* Tariffs are a tax collected by the government and paid for by businesses bringing goods into the country.
* The proposed tariffs could lead to higher prices in the US on various products, including iPhones and avocados.
* Economists have warned that tariffs on goods from China, Mexico, and Canada could have significant economic consequences.
* China has already responded to the first round of tariffs with its own tariffs on US products.
* Trump's comments seem to set the stage for negotiations between Mexico and Canada to address his concerns about fentanyl flow.
* Trade expert Christine McDaniel believes that the impact of tariffs will be felt more in China, which has already responded to the first round of tariffs.
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