Trump puts tariffs on Canada, Mexico and China, spurring trade war as North American allies respond
"It doesn't make much economic sense," said an expert economist.
"It doesn't make much economic sense," said an expert economist.
"It doesn't make much economic sense," said an expert economist.
President Donald Trump on Saturday signed an order to impose stiff tariffs on imports from Mexico, Canada and China, drawing swift retaliation and an undeniable sense of betrayal from the country's North American neighbors as a trade war erupted among the longtime allies.
See an excerpt of Canadian PM Trudeau's response in the video above
The Republican president posted on social media that the tariffs were necessary 바카라 게임 웹사이트to protect Americans," pressing the three nations to do more to curb the manufacture and export of illicit fentanyl and for Canada and Mexico to reduce illegal immigration into the U.S.
The tariffs, if sustained, could , threatening the trust that many voters placed in Trump to lower the prices of groceries, gasoline, housing, autos and other goods as he promised. They also risked throwing the global economy and Trump바카라 게임 웹사이트s political mandate into turmoil just two weeks into his second term.
Trump declared an economic emergency in order to place duties of 10% on all imports from China and 25% on imports from Mexico and Canada. Energy imported from Canada, including oil, natural gas and electricity, would be taxed at a 10% rate. Trump바카라 게임 웹사이트s order includes a mechanism to escalate the rates charged by the U.S. against retaliation by other countries, raising the specter of an even more severe economic disruption.
바카라 게임 웹사이트The actions taken today by the White House split us apart instead of bringing us together,바카라 게임 웹사이트 Canadian Prime Minister Justin Trudeau said in a somber tone as he announced that his country would put matching 25% tariffs on up to $155 billion in U.S. imports, including alcohol and fruit.
He channeled the betrayal that many Canadians are feeling, reminding Americans that Canadian troops fought alongside them in Afghanistan and helped respond to myriad crises from wildfires in California to Hurricane Katrina.
바카라 게임 웹사이트We were always there standing with you, grieving with you, the American people,바카라 게임 웹사이트 he said.
Mexico바카라 게임 웹사이트s president also ordered retaliatory tariffs.
"We categorically reject the White House바카라 게임 웹사이트s slander that the Mexican government has alliances with criminal organizations, as well as any intention of meddling in our territory,바카라 게임 웹사이트 Mexican President Claudia Sheinbaum wrote in a post on X while saying she had instructed her economy secretary to implement a response that includes retaliatory tariffs and other measures in defense of Mexico바카라 게임 웹사이트s interests.
바카라 게임 웹사이트If the United States government and its agencies wanted to address the serious fentanyl consumption in their country, they could fight the sale of drugs on the streets of their major cities, which they don바카라 게임 웹사이트t do and the laundering of money that this illegal activity generates that has done so much harm to its population.바카라 게임 웹사이트
The premier of the Canadian province of British Columbia, David Eby, specifically called on residents to stop buying liquor from U.S. 바카라 게임 웹사이트red바카라 게임 웹사이트 states and said it was removing American alcohol brands from government store shelves as a response to the tariffs.
China바카라 게임 웹사이트s Ministry of Foreign Affairs said the country's government 바카라 게임 웹사이트firmly deplores and opposes this move and will take necessary countermeasures to defend its legitimate rights and interests.바카라 게임 웹사이트
China began regulating fentanyl-related drugs as a class of controlled substances in 2019 and conducted 바카라 게임 웹사이트counternarcotics cooperation with the U.S.," the ministry said, calling on the U.S. government to correct what it considers wrongful actions.
The Ministry of Commerce in China said it would file a lawsuit with the World Trade Organization for the 바카라 게임 웹사이트wrongful practices of the U.S.바카라 게임 웹사이트 and take measures to safeguard its rights and interests.
The tariffs will go into effect on Tuesday, setting up a showdown in North America that could potentially . A new analysis by the Budget Lab at Yale laid out the possible damage to the U.S. economy, saying the average household would lose the equivalent of $1,170 in income from the taxes. Economic growth would slow and inflation would worsen, and the situation could be even worse with retaliation from other countries.
Democrats were quick to warn that any inflation going forward was the result of Trump바카라 게임 웹사이트s actions.
바카라 게임 웹사이트You바카라 게임 웹사이트re worried about grocery prices. Don바카라 게임 웹사이트s raising prices with his tariffs,바카라 게임 웹사이트 Senate Democratic Leader Chuck Schumer of New York wrote in a series of posts on X. 바카라 게임 웹사이트You바카라 게임 웹사이트re worried about tomato prices. Wait till Trump바카라 게임 웹사이트s Mexico tariffs raise your tomato prices,바카라 게임 웹사이트 read another. 바카라 게임 웹사이트You바카라 게임 웹사이트re worried about car prices. Wait till Trump바카라 게임 웹사이트s Canada tariffs raise your car prices,바카라 게임 웹사이트 read another.
A senior U.S. administration official, speaking on condition of anonymity to brief reporters, said the lower rate on energy reflected a desire to minimize disruptive increases on the price of gasoline or utilities. That's a sign White House officials understand the gamble they're taking on inflation. Price spikes under former President led to voter frustration that helped return Trump to the White House.
The order signed by Trump contained no mechanism for granting exceptions, the official said, a possible blow to homebuilders who rely on Canadian lumber as well as farmers, automakers and other industries.
The official did not provide specific benchmarks that could be met to lift the new tariffs, saying only that the best measure would be fewer Americans dying from fentanyl addiction.
The order would also allow for tariffs on Canadian imports of less than $800. Imports below that sum are currently able to cross into the United States without customs and duties.
바카라 게임 웹사이트It doesn바카라 게임 웹사이트t make much economic sense,바카라 게임 웹사이트바카라 게임 웹사이트 said William Reinsch, senior adviser at the Center for Strategic and International Studies and a former U.S. trade official. 바카라 게임 웹사이트Historically, most of our tariffs on raw materials have been low because we want to get cheaper materials so our manufacturers will be competitive ... Now, what바카라 게임 웹사이트s he talking about? He바카라 게임 웹사이트s talking about tariffs on raw materials. I don바카라 게임 웹사이트t get the economics of it.바카라 게임 웹사이트바카라 게임 웹사이트
With the tariffs, Trump is honoring promises that are at the core of his economic and national security philosophy. But the announcement showed his seriousness around the issue as some Trump allies had played down the threat of higher import taxes as mere negotiating tactics.
The president is preparing more import taxes in a sign that tariffs will be an ongoing part of his second term. On Friday, he mentioned imported computer chips, steel, oil and natural gas, as well as copper, pharmaceutical drugs and imports from the European Union 바카라 게임 웹사이트 moves that could essentially pit the U.S. against much of the global economy.
Trudeau warned of economic pain as the tariffs take effect and encouraged Canadians to "choose Canadian products and services rather than American ones.바카라 게임 웹사이트 But he also voiced optimism in the enduring relationship between the two countries.
바카라 게임 웹사이트It is going to have real consequences for people, for workers on both sides of our border. We don바카라 게임 웹사이트t want to be here. We didn바카라 게임 웹사이트t ask for this, but we will not back down in standing up both for Canadians and for the incredible successful relationship between Canada and the United States,바카라 게임 웹사이트 Trudeau said.
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Boak reported from Palm Beach, Florida, Sherman reported from Mexico City and Gillies reported from Toronto. Associated Press writer Paul Wiseman in Washington contributed to this report.
