{"id":130227,"date":"2024-11-26T09:32:53","date_gmt":"2024-11-26T02:32:53","guid":{"rendered":"https:\/\/hotvideos24.online\/?p=130227"},"modified":"2024-11-26T09:32:53","modified_gmt":"2024-11-26T02:32:53","slug":"trump-ups-the-ante-on-tariffs-vowing-massive-taxes-on-goods-from-mexico-canada-and-china-on-day-1","status":"publish","type":"post","link":"https:\/\/hotvideos24.online\/?p=130227","title":{"rendered":"Trump ups the ante on tariffs, vowing massive taxes on goods from Mexico, Canada and China on Day 1"},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<\/p>\n<div data-editable=\"content\" itemprop=\"articleBody\" data-reorderable=\"content\">\n<p>\n    <cite class=\"source__cite\"><br \/>\n      <span class=\"source__location\" data-editable=\"location\"\/><br \/>\n      <span class=\"source__text\" data-editable=\"source\">CNN<\/span><br \/>\n        \u00a0\u2014\u00a0<br \/>\n    <\/cite>\n<\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm3xoizwu00ke2cnt7vlqdktr@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            President-elect <a href=\"https:\/\/www.cnn.com\/politics\/president-donald-trump-47\">Donald Trump<\/a> on Monday promised massive hikes in tariffs on goods coming from Mexico, Canada and China starting on the first day of his administration, a policy that could sharply increase costs for American businesses and consumers.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm3xozd6z00003b6mppuhhh0n@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            The move, Trump said, will be in retaliation for illegal immigration and \u201ccrime and drugs\u201d coming across the border.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm3xoj3580000356mytxfazzi@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            \u201cOn January 20th, as one of my many first Executive Orders, I will sign all necessary documents to charge Mexico and Canada a 25% Tariff on ALL products coming into the United States, and its ridiculous Open Borders,\u201d Trump <a href=\"https:\/\/truthsocial.com\/@realDonaldTrump\/posts\/113546215051155542\" target=\"_blank\" rel=\"noopener\">posted<\/a> on his Truth Social platform. \u201cThis Tariff will remain in effect until such time as Drugs, in particular Fentanyl, and all Illegal Aliens stop this Invasion of our Country!\u201d\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm3xoo8tq0007356mfkp47pxm@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            Trump said America\u2019s neighbors can \u201ceasily solve this long simmering problem.\u201d\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm3xoqdtp000b356mqpbujcch@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            Similarly, Trump said that China will face higher tariffs on its goods \u2013 by 10% above any existing tariffs \u2013 until it prevents the flow of illegal drugs into the United States.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm3xor5cm000e356mssm92du5@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            \u201cI have had many talks with China about the massive amounts of drugs, in particular Fentanyl, being sent into the United States \u2013 But to no avail,\u201d Trump <a href=\"https:\/\/truthsocial.com\/@realDonaldTrump\/posts\/113546215408213585\" target=\"_blank\" rel=\"noopener\">posted<\/a> on Truth Social.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm3xp4iwc00053b6mquem18fa@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            The president-elect claimed in the post that Chinese officials promised him the country would execute drug dealers caught funneling drugs into the United States but \u201cnever followed through.\u201d\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm3xrmcxy000t3b6mjljvnwe4@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            Responding to Trump\u2019s announcement, Chinese Embassy spokesperson Liu Pengyu said his country has been in communication with the US about counternarcotics operations and that \u201cthe idea of China knowingly allowing fentanyl precursors to flow into the United States runs completely counter to facts and reality.\u201d\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm3xsl6m000103b6mzkaj8nzk@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            \u201cAbout the issue of US tariffs on China, China believes that China-Us economic and trade cooperation is mutually beneficial in nature. No one will win a trade war or a tariff war,\u201d Liu said in a statement to CNN.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm3xoszaf000h356m7i97pjry@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            CNN has reached out to the embassies of Mexico and Canada comment.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm3xt49960000356m91q87uws@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            The punishing tariffs, if enacted, could wreak havoc on America\u2019s supply chains and industries reliant on goods from the country\u2019s closest trading partners.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm3xt0pgd00003b6mulnm2kh1@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            \u201cThe measures proposed this evening could hit a number of strategic US industrial sectors hard, add approximately $272 billion a year to tax burdens, raise goods prices, lift interest rates, and sap strength in an already-vulnerable household sector,\u201d said Karl Schamotta, chief market strategist at Corpay Cross-Border Solutions.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm3xr9hmn0000356mrdxlay6w@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            After the announcement, the Canadian dollar fell 1.2% against the US dollar, and the Mexican peso fell 2% against the dollar. China\u2019s yuan, though controlled by the government, traded higher \u2013 above 7.6% \u2013 in offshore markets.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm3xtbd9r0005356ma0kwwbcf@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            Although investors believed the tariffs could ultimately strengthen the dollar, America\u2019s financial markets took a hit, too. The extraordinary tariffs would raise costs dramatically for Americans for everyday goods that had previously come over the border without any import taxes.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm3xtjgjz000e356m2ef3u9g0@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            That stunning shift could stymie economic growth, especially if inflation-weary consumers spend less in the face of higher costs.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm3xreivz0004356mwoezeqtk@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            US stock futures, which were higher before Trump\u2019s announcement, fell somewhat \u2013 Dow futures were down 160 points, or 0.3%. Nasdaq futures were 0.4% lower, and the broader S&amp;P 500 was also down 0.4%. US Treasury bond prices fell.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm3xr4a710000356mwsipl43b@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            The United States\u2019 top import from Canada is oil, which reached a record <a href=\"https:\/\/www.eia.gov\/todayinenergy\/detail.php?id=63564\" target=\"_blank\" rel=\"noopener\">4.3 million barrels per day<\/a> in July, according to the <a href=\"https:\/\/www.eia.gov\/todayinenergy\/detail.php?id=63564\" target=\"_blank\" rel=\"noopener\">US Energy Information Administration<\/a>. America also imports cars, machinery and other various commodities, plastics and wood from Canada, according to the United Nations\u2019 Comtrade.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm3xrj7y9000m3b6mh3eaqpfg@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            America gets the majority of its cars and car parts from Mexico, which surpassed China as the top exporter to the US in 2023, according to trade data released by the Commerce Department earlier this year. Mexico is also a major supplier of electronics, machinery, oil and optical apparatus, and a significant amount of furniture and alcohol comes from the country into the United States.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm3xrjblk000o3b6mpv7tak9t@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            The United States imports a significant amount of electronics from China, in addition to machinery, toys, games, sports equipment, furniture and plastics.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm3xrjhob000q3b6mqpqsm52z@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            During Trump\u2019s first term, <a href=\"https:\/\/www.cnn.com\/2024\/10\/13\/politics\/donald-trump-tariffs\/index.html\">CNN reported<\/a> that he implemented tariffs on about $380 billion worth of goods that applied to thousands of Chinese-made products, including <a href=\"http:\/\/www.cnn.com\/2019\/05\/07\/politics\/china-tariff-hike-businesses\/index.html\">baseball hats<\/a>, luggage, <a href=\"http:\/\/www.cnn.com\/2019\/08\/29\/politics\/tariffs-trump-economy-business-uncertainty\/index.html\">bicycles<\/a>, TVs and <a href=\"http:\/\/www.cnn.com\/2019\/06\/16\/economy\/new-balance-china-tariffs\/index.html\">sneakers<\/a><a href=\"https:\/\/www.cnn.com\/2024\/10\/13\/politics\/donald-trump-tariffs\/index.html\">.<\/a> The Trump tariffs also hit foreign steel, aluminum, washing machines and solar panels.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm3xr4qn10004356mb8w3t2s4@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            Many US imports from Canada and Mexico are exempted from tariffs because of the USMCA trade agreement between the three nations that Trump pushed for during his first administration. It\u2019s not clear how Trump would plan to implement the proposed tariffs without violating the USMCA.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm3xt9esd0002356mognzfkji@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            Trump has routinely referenced the <a href=\"https:\/\/www.cnn.com\/2020\/07\/01\/politics\/usmca-nafta-replacement-trump\/index.html\">passage of the USMCA<\/a>, which replaced NAFTA, as a political victory and a highlight of his presidency.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm3xoxzui000n356milx0fnwd@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            Trump campaigned on using tariffs as a cudgel against foreign countries \u2013 as he did in his first administration \u2013 to grow domestic manufacturing while increasing tax revenue to pay for large revenue gaps that his proposed tax cut plan would create.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm3xpr0h8000z356m6bddeuek@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            Tariffs effectively serve as a tax on goods imported to the United States. Although Trump has repeatedly said targeted foreign countries pay the tariffs, they are in fact paid by companies that purchase the imported goods \u2013 and those costs are typically <a href=\"https:\/\/www.cnn.com\/2024\/11\/04\/business\/tariffs-donald-trump-prices\/index.html\">passed onto American consumers<\/a>. Most mainstream economists believe tariffs will be inflationary, and the Peterson Institute for International Economics has estimated Trump\u2019s proposed tariffs would cost the typical US household <a href=\"https:\/\/www.cnn.com\/2024\/11\/06\/politics\/video\/tariff-policy-trump-explained-digvid\">over $2,600 a year.<\/a>\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm3xpr0h90010356mfd3zx89u@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            <a href=\"https:\/\/www.cnn.com\/2024\/11\/22\/politics\/scott-bessent-treasury-secretary-trump\/index.html\">Scott Bessent<\/a>, Trump\u2019s pick for Treasury secretary, has said that tariffs would not add to inflation if they are implemented correctly. Wall Street cheered Bessent\u2019s appointment, because he is widely expected to roll out tariffs gradually.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm3xpr0h90011356msc6tx9f6@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            Although Bessent, if confirmed by the Senate, will be partly responsible for implementing the tariffs, in coordination with the Commerce secretary and US Trade Representative, Trump as president would wield significant power to levy tariffs with the stroke of a pen. He did just that when he was last in the White House, placing large tariffs on goods, primarily from China.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm3xpr0h90012356miugfhrvf@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            The problem with tariffs is that they often result in retaliatory actions by targeted countries, kicking off a trade war \u2013 and that\u2019s exactly what happened during Trump\u2019s first term. That blunted the tariffs\u2019 effect on domestic manufacturing, because manufacturers\u2019 goods became less attractive to overseas buyers.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm3xpr0h90013356mcczses7h@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            Trump has promised significantly larger tariffs during his second term. Although he continues to discuss many different numbers, he has proposed a tariff upward of 60% on all Chinese goods, as well as an across-the-board tariff of either 10% or 20% on all other imports into the US.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm3xot0rv000k356m6at6wg8b@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            <em>This story has been updated with additional context and developments.<\/em>\n    <\/p>\n<p class=\"paragraph paragraph_contributors inline-placeholder vossi-paragraph_contributors\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm3xpy61l000h3b6mf84r2mtq@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            CNN\u2019s Matt Egan and Jack Forrest contributed to this report.\n    <\/p>\n<\/p><\/div>\n<p><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<br \/><div data-type=\"_mgwidget\" data-widget-id=\"1660802\">\r\n<\/div>\r\n<script>(function(w,q){w[q]=w[q]||[];w[q].push([\"_mgc.load\"])})(window,\"_mgq\");\r\n<\/script>\r\n<br \/>\n<br \/><a href=\"https:\/\/www.cnn.com\/2024\/11\/25\/politics\/trump-tariffs-mexico-canada-china\/index.html\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>CNN \u00a0\u2014\u00a0 President-elect Donald Trump on Monday promised massive hikes in tariffs on goods coming from Mexico, Canada and China starting on the first day of his administration, a policy &hellip; <a href=\"https:\/\/hotvideos24.online\/?p=130227\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8629],"tags":[],"class_list":["post-130227","post","type-post","status-publish","format-standard","hentry","category-u-s","entry"],"_links":{"self":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/130227","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=130227"}],"version-history":[{"count":0,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/130227\/revisions"}],"wp:attachment":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=130227"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=130227"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=130227"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}