Trump to Continue Fentanyl Tariffs Against Mexico, Canada, and China

President Trump will continue imposing tariffs on Mexico, Canada, and China, focusing on their responses to the fentanyl crisis. Commerce Secretary Howard Lutnick reiterated the administration’s commitment to protect American lives and encouraged the tariffs despite potential price hikes for consumers. He assured that the U.S. will not face a recession due to these tariffs.

United States President Donald Trump is set to uphold tariffs imposed on Mexico, Canada, and China, particularly regarding their approach to fentanyl, according to US Commerce Secretary Howard Lutnick. In an interview with NBC’s “Meet the Press”, Lutnick emphasized, “If fentanyl ends, I think these will come off. But if fentanyl does not end, or he is uncertain about it, he will stay this way until he is comfortable.” This reflects the administration’s urgent response to the fentanyl crisis, which is deemed a significant threat to American lives.

Lutnick announced that the 25% tariffs on imports of steel and aluminum will proceed as intended, beginning Wednesday. Canada and Mexico remain key suppliers of these metals to American markets, with Canada being the primary source of aluminum imports. Despite concerns regarding the economic implications of these tariffs, Lutnick contended that there would not be a recession in the United States, stating, “Absolutely not. There’s going to be no recession in America.”

Moreover, the commerce secretary acknowledged that while these tariffs may lead to increased prices for consumers on foreign-made items, they would also lead to reductions in costs for American-made products. “Some products that are made foreign might be more expensive, but American products will get cheaper, and that is the point,” he added, underscoring the administration’s intent amid rising consumer prices.

In conclusion, President Trump is determined to maintain tariffs on imports from Mexico, Canada, and China, particularly to address the fentanyl crisis. Secretary Lutnick’s comments illustrate a firm stance on preserving American lives at the cost of potential price increases for foreign goods, while asserting that no recession will occur. Ultimately, the economic policy aims to boost American production and competitiveness.

Original Source: www.business-standard.com