Trump threatens to double the tariffs in China and says that the punishment of Mexico and Canada tariffs will come into force on March 4

Cnn
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President Donald Trump said that the tariffs of 25% for Mexican and Canadian goods should come into force on Mexican and Canadian goods on Thursday on Thursday on Thursday, and at the same time threatens that Chinese imports impose a further 10% at the same time.

Mexico, China and Canada are the three best trading partners in America. Simultaneous tariffs of all three nations could lead to increasing prices for American consumers, especially at a time when inflation is already heated.

“Drugs still flock to our country in our country from Mexico and Canada at very high and unacceptable levels,” Trump said on Thursday morning in a post at the social morning of truth. The President has bound tariffs for the neighbors of America’s illegal migration and fentanyl flow into the country.

“We cannot allow this scourge to continue to damage the United States, and therefore the proposed tariffs that are to come into force on March 4 will come into force as planned or enter into force as planned,” he said.

The 25% tariffs in Mexico and Canada had already entered into force, but the president had not previously threatened to impose another 10% tariffs for Chinese imports after the first 10% tariff for the goods of the state came into force at the beginning of this month.

The US shares initially reacted negatively to Trump’s comments on Thursday, with the futures on the Dow fell by 90 points. However, all three main indices opened up higher, with the Dow rose by 0.5%. The S&P 500 moved by 0.3% higher and the NASDAQ composite was less than 1%.

Trump’s post is sown after confusion on Wednesday during his first cabinet seat after saying “April 2 for everything”, in response to the question of a reporter to request clarification when the tariffs of Mexico and Canada come into force.

This led too much to the assumption that the tariffs were delayed beyond the 30-day break, which came into force at the beginning of this month.

If the tariffs are enacted, the tariffs increase the possibility that Mexico, Canada and China could impose retaliatory duties against the United States, which can affect the domestic industry.

After the first 10% tariffs came into force in all Chinese imports, Beijing reacted with a tax of 15% to American exports to China, including certain types of coal and liquefied natural gas and a 10% tariff for crude oil, agricultural machinery, cars with large distribution and pickup trucks.

This is a developing history and is updated.