In keeping with a major campaign pledge that could significantly affect trade, President-elect Donald Trump announced Monday that his incoming administration would impose hefty taxes on imported products from China, Canada, and Mexico.
As a response to the ongoing fentanyl issue, Trump stated in a post on Truth Social that he intends to attempt to slap a 25% tariff on goods imported from Canada and Mexico.
“On 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,” Trump stated in a tweet. “This Tariff will remain in effect until such time as Drugs, in particular Fentanyl, and all Illegal Aliens stop this Invasion of our Country!”
Additionally, Trump stated that he will try to slap more tariffs on China.
“I have had many talks with China about the massive amounts of drugs, in particular Fentanyl, being sent into the United States But to no avail,” Trump stated in a tweet. “Until such time as they stop, we will be charging China an additional 10% Tariff, above any additional Tariffs, on all of their many products coming into the United States of America.”
Requests for response on Monday night were not immediately answered by the Canadian, Chinese, and Mexican embassies.
Following President Joe Biden and Chinese President Xi Jinping’s meeting in California last year, the U.S. and China held high-level discussions this year over the fentanyl epidemic in an attempt to revive counternarcotics cooperation. Additionally, Biden declared in May that he would raise the tariff rate on a number of Chinese imports, including electric vehicles, from 25% to 100% this year.
Trump stated throughout the campaign that he would apply a 20% general tax on all imports and levy at least 60% additional tariffs on Chinese goods.
Trump portrayed the proposed tariffs as a kind of retaliation during a presidential debate with Kamala Harris, the Democratic candidate at the time, who referred to them as a “sales tax on the American people.”
Trump stated during the September debate that other nations will finally, after 75 years, reimburse us for what we have done for the world, and the tariff will be significant.
As NBC News has previously reported, corporations and Capitol Hill are expected to oppose any proposed tariffs.
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