Joe.My.God. LGBT News
CNN reports:
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 that could sharply increase costs for American businesses and consumers. The move, Trump said, will be in retaliation for illegal immigration and “crime and drugs” coming across the border.
“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 posted on his Truth Social platform.
“This Tariff will remain in effect until such time as Drugs, in particular Fentanyl, and all Illegal Aliens stop this Invasion of our Country!”
The New York Times reports:
Taken together, the tariff threats were a dramatic ultimatum against the three largest trading partners of the United States, and a move that threatens to sow chaos in America’s diplomatic and economic relationships even before Mr. Trump sets foot in the White House.
News of the tariffs immediately set off alarms in the three nations, with the currencies of Canada and Mexico sliding against the dollar and a spokesman for the Chinese Embassy in Washington warning that “no one will win a trade war.”
The tariffs would also have serious implications for American industries, including auto manufacturers, farmers and food packagers, which busily ship parts, materials and finished goods across U.S. borders. Mexico, China and Canada together account for more than a third of the goods and services both imported and exported by the US, supporting tens of millions of American jobs.
The Washington Post reports:
U.S. imports from Mexico include cars, machinery, electrical equipment, food and beer. Canada supplies oil and gas, machinery and parts and much else. The United States relies on China for electronics, particularly phones, along with toys, furniture and plastics.
Economists warn that tariffs could affect grocery prices, which were a key election issue. Mexico supplied more than half of U.S. fresh fruit imports in 2022, according to the Agriculture Department.
Tariffs on Mexican and Canadian products will be especially disruptive for the auto industry. Half-finished vehicles often move across North American borders several times before they are completed. Adding a 25 percent fee to each movement could erode automakers’ profits or give consumers sticker shock.
The cult, which spent the last two years screaming about the price of eggs, is applauding.
Trump says he will implement a 25% tariff on Canada and Mexico on “ALL products coming into the United States” on his first day taking office. pic.twitter.com/lqt4AynhDN
— Kaitlan Collins (@kaitlancollins) November 25, 2024