Trump Confirms March 4 Tariffs: 25% on Mexico and Canada, Additional 10% on China
President Trump has confirmed that 25% tariffs on goods from Mexico and Canada will begin on March 4, alongside an added 10% duty on Chinese imports. He cites drug imports, especially fentanyl, as a primary reason for these tariffs. Despite previous indications of a delay, Trump will proceed with the tariffs, and discussions with Mexican officials are underway to mitigate their impact.
On Thursday, U.S. President Donald Trump reaffirmed that his proposed 25% tariffs on goods from Mexico and Canada will take effect on March 4 due to ongoing drug imports from these nations. Additionally, he announced a further 10% tariff on Chinese imports, augmenting the previous 10% imposed on February 4.
Trump attributed the tariffs to the significant flow of drugs, particularly fentanyl, into the United States, citing these levels as “very high and unacceptable.” He emphasized that if this situation continues, the tariffs will proceed as planned: “We cannot allow this scourge to continue to harm the USA.”
The President’s statements clarified earlier confusion regarding the tariff deadlines, as he hinted on Wednesday at a possible delay to April 4. However, this was actually regarding reciprocal tariffs aligning U.S. duties with those imposed by other countries, particularly in relation to European import value-added taxes.
Kevin Hassett, the White House’s chief economic adviser, revealed that the President’s tariff decisions would follow a study set for release on April 1. This study is expected to inform any tariff adjustments, particularly concerning Mexico and Canada.
In the face of potential tariffs, Mexican Economy Minister Marcelo Ebrard plans to meet with U.S. Trade Representative Jamieson Greer and Commerce Secretary Howard Lutnick to negotiate and possibly avert these tariffs. Meanwhile, Canadian officials assert that their enhanced security efforts at the U.S. border should mitigate concerns voiced by the Trump administration.
In a letter, China urged the United States to engage in dialogue and consultation to address economic concerns, emphasizing the importance of equality in trade discussions.
In summary, President Trump’s firm commitment to implement tariffs against Mexico and Canada by March 4 highlights the administration’s focus on combatting the opioid crisis linked to fentanyl imports. Furthermore, the announcement of additional tariffs on Chinese goods reflects ongoing trade tensions. With discussions ongoing between U.S. and Mexican officials, the situation remains dynamic, particularly as the study regarding tariff policies is due on April 1.
Original Source: www.usnews.com
