{"id":130303,"date":"2024-11-26T14:37:29","date_gmt":"2024-11-26T07:37:29","guid":{"rendered":"https:\/\/hotvideos24.online\/?p=130303"},"modified":"2024-11-26T14:37:29","modified_gmt":"2024-11-26T07:37:29","slug":"trump-threatens-china-mexico-and-canada-with-new-tariffs","status":"publish","type":"post","link":"https:\/\/hotvideos24.online\/?p=130303","title":{"rendered":"Trump threatens China, Mexico and Canada with new tariffs"},"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-component=\"text-block\">\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">Donald Trump says he will hit China, Mexico and Canada with new tariffs on day one of his presidency, in an effort to<!-- --><b id=\"\" class=\"sc-7dcfb11b-0 kVRnKf\"> <!-- --><\/b>force them to crack down on illegal immigration and drug smuggling into the US.<!-- --><\/p>\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">The president-elect said that immediately after his inauguration on 20 January he will sign an executive order imposing a 25% tariff on all goods coming from Mexico and Canada.<!-- --><\/p>\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">He also said an additional 10% tariff will be levied on China until the government there blocks smuggling of the synthetic opioid fentanyl from the country.<!-- --><\/p>\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">If Trump follows through with the threats it will mark a major escalation in tensions with America&#8217;s three biggest trading partners.<!-- --><\/p>\n<\/div>\n<div data-component=\"text-block\">\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">The measures have the potential to cause disruptions to the global supply chain and would hit the three countries targeted by the tariffs hard. <!-- --><\/p>\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">The tariffs on Mexico and Canada will remain in place until the two countries clamp down on drugs, particularly fentanyl, and migrants illegally crossing the border, Trump said in a post on his Truth Social platform.<!-- --><\/p>\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">&#8220;Both Mexico and Canada have the absolute right and power to easily solve this long simmering problem,&#8221; he said.<!-- --><\/p>\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">&#8220;It is time for them to pay a very big price!&#8221; <!-- --><\/p>\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">In a separate post, Trump attacked Beijing for failing to follow through on promises he said Chinese officials made to carry out the death penalty for people caught dealing fentanyl.<!-- --><\/p>\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">A spokesperson for the Chinese embassy in Washington told the BBC &#8220;the idea of China knowingly allowing fentanyl precursors to flow into the United States runs completely counter to facts and reality&#8221;.<!-- --><\/p>\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">&#8220;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,&#8221; he added.<!-- --><\/p>\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">The Biden administration has been calling on Beijing to do more to stop the production of ingredients used in fentanyl, which Washington estimates killed almost 75,000 Americans last year.<!-- --><\/p>\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">During his election campaign, Trump threatened Mexico and China with tariffs of up to 100%, if he deemed them necessary, much higher than those he put in place during his first term in office.<!-- --><\/p>\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">Trump has also said he will end China&#8217;s most-favoured-nation trading status with the US &#8211; the most advantageous terms Washington offers on tariffs and other restrictions.<!-- --><\/p>\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">Last year, more than 80% of Mexico&#8217;s exports went to the US, while around 75% of Canada&#8217;s went to its larger neighbour.<!-- --><\/p>\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">Even after years of a bitter trade dispute between the world&#8217;s two biggest economies, the US still accounts for about 15% of China&#8217;s exports.<!-- --><\/p>\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">Tariffs are a central part of Trump&#8217;s economic vision &#8211; he sees them as a way of growing the US economy, protecting jobs and raising tax revenue.<!-- --><\/p>\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">He has previously claimed that these taxes are &#8220;not going to be a cost to you, it\u2019s a cost to another country&#8221;.<!-- --><\/p>\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">This is almost universally regarded by economists as misleading.<!-- --><\/p>\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">&#8220;It&#8217;s clearly consistent with his promise that he made during the campaign to utilise tariffs as a weapon to accomplish many of his policy initiatives,&#8221; Stephen Roach, Senior Fellow at the Paul Tsai China Center of Yale Law School told the BBC&#8217;s Business Today programme.<!-- --><\/p>\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">Trump&#8217;s pick for Treasury Secretary, Scott Bessent, has previously suggested that the president-elect&#8217;s threats to impose major tariff hikes were part of his negotiating strategy.<!-- --><\/p>\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">\u201cMy general view is that at the end of the day, he&#8217;s a free trader,&#8221; Bessent said of Trump in an interview with the Financial Times before he was nominated for the role.<!-- --><\/p>\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">\u201cIt\u2019s escalate to de-escalate.\u201d<!-- --><\/p>\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">It comes as the Chinese economy is in a significantly more vulnerable position than it was during the previous Trump presidency.<!-- --><\/p>\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">The country has been struggling with a number of serious issues, including an ongoing property market crisis, weak domestic demand and growing local government debt.<!-- --><\/p>\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">The new tariffs appear to break the terms of the US-Mexico-Canada Agreement (USMCA) on trade. <!-- --><\/p>\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">The deal, which Trump signed into law, took effect in 2020. It continued a largely duty-free trading relationship between the three neighbouring countries.<!-- --><\/p>\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">After Trump made his tariff threat, he discussed trade and border security with Canada&#8217;s Prime Minister Justin Trudeau, according to the Reuters news agency.<!-- --><\/p>\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">Mexico&#8217;s finance ministry said: &#8220;Mexico is the United States&#8217; top trade partner, and the USMCA provides a framework of certainty for national and international investors.&#8221;<!-- --><\/p>\n<\/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.bbc.com\/news\/articles\/cvg7y52n411o\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Donald Trump says he will hit China, Mexico and Canada with new tariffs on day one of his presidency, in an effort to force them to crack down on illegal &hellip; <a href=\"https:\/\/hotvideos24.online\/?p=130303\" 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-130303","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\/130303","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=130303"}],"version-history":[{"count":0,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/130303\/revisions"}],"wp:attachment":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=130303"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=130303"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=130303"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}