Trump vows to impose new tariffs on Canada, Mexico and China on his first day as president

US President-elect Donald Trump said that on his first day in office he would impose a 25% tariff on all products entering from Mexico and Canada, and an additional 10% tariff on products from China.

“On January 20, as one of my first executive orders, I will sign all necessary documents to charge Mexico and Canada a 25% tariff on ALL products entering the United States,” Trump said in a post on Truth Social the Monday night.

The Republican argued his promise based on concerns about illegal immigration and the illicit drug trade.

Trump explained that the tariffs would remain in place until the two countries take drastic measures against drugs – in particular fentanyl– and migrants who cross the border with the United States illegally.

Regarding China, the president-elect accused Beijing of not taking strong enough measures to stop the flow of illicit drugs crossing the border into the United States from Mexico.

“Until they stop, we will charge China an additional 10% tariff, in addition to any other additional tariffs, on all of its numerous products entering the United States of America,” he said.

Trump promised from the beginning of his presidential campaign to apply tariffs on imports from the Asian giant of more than 60%, much higher than those he imposed during his first term.

The Chinese economy is currently in a much more vulnerable position given the country’s prolonged real estate crisis, debt risks and weak domestic demand.

If this measure is applied, prices from gasoline to automobiles could drastically increase. The United States is the world’s largest importer of goods, and Mexico, China and Canada are its top three suppliers, according to the most recent census data.

It is unclear whether Trump will actually follow through on his threats or if he is using them as a negotiating tactic before taking office next year.

[Con información de Reuters y AP]

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