Donald Trump, the president-elect of the United States, announced through his social networks that starting on his first day in office he will implement a 25% tariff increase for all products from Mexico and Canada, as well as an additional 10% tariff for any product originating in China.
Trump justified the implementation of the new tariffs as a measure to combat the entry of illicit drugs, such as fentanyl, into US territory. He also said that he seeks to restrict the migration phenomenon on the border with Mexico. According to his approach, the tariffs will remain in effect until the entry of illegal substances and irregular migration to the United States are completely eradicated.
According to COMTRADE, a United Nations database, the three main countries of origin of US imports by 2023 were Mexico (16%), China (15%) and Canada (14%), so the implementation of the new tariffs has generated an immediate response from the affected countries.
Mexican President Claudia Sheinbaum announced at a press conference that she would send a letter to Trump stating that, in response to one tariff, another would be imposed. In addition, Sheinbaum stressed in her statements that the migration phenomenon and drug use in the United States will not be resolved with threats or tariffs. Similarly, the representative of the Chinese Embassy in the United States, Liu Pengyu, made a statement to the media where he stressed that China believes that economic and commercial cooperation between the two countries is mutually beneficial in nature and that no one will win a trade war or a tariff war.
Meanwhile, Canadian Prime Minister Justin Trudeau called Donald Trump after the announcement of the new tariffs, where he acknowledged that there are opportunities and challenges to work between the two countries.
Donald Trump will be sworn into office on January 20, 2025. This will be the second time Trump is sworn in as president, the first being on January 20, 2017 after his electoral victory over Hillary Clinton.
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