President-elect Donald J. Trump on Monday, made an announcement that he would implement several tariffs on all imports to the United States from Mexico, Canada and China on the first day of his office. It is a decision that may disrupt the global supply chains and impose significant costs on businesses that depend on trade with some of the largest economies of the world.
In a post on Truth Social, Trump mentioned a caravan of migrants heading to the United States from Mexico, stating that he would issue an executive order imposing a 25% tariff on goods that come from Mexico and Canada until the flow of drugs and migrants across the border is stopped.
He further wrote that this tariff will be effective until the time drugs like Fentanyl and all migrants referred to as “Illegal Aliens” by Trump has been stopped in the country. He continued that both Mexico and Canada have completed the authority and ability to address the issue, and they demand that they exercise this power until they face a major consequence.
In another post, Donald Trump also indicated a potential addition of a 10% tariff on all products from China, claiming that the country has been sending illegal drugs into the United States. He also remarked that the Chinese representatives had communicated to him that they would impose their maximum punishment, which is death on any drug dealers who are caught in the act.
Altogether, these tariff threats signify a significant ultimatum towards the three largest trading partners of the U.S., a move which is likely to create turmoil in the diplomatic and economic relations of America even before Trump officially assumed the presidency.
Reactions to the tariff announcements triggered alarm bells in the three countries that have caused the currencies of Canada and Mexico to decline against the dollar.
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