President Trump Slaps Canada, China, and Mexico with Tariffs
President Trump signed a set of executive orders at Mar-a-Lago Saturday that placed tariffs on Canada, China, and Mexico.
The 25% tariffs on Canada and Mexico are in response to those nations failing to secure their borders allowing a steady stream of illegal aliens and dangerous drugs into the United States.
China was hit with a 10% tariff “for illegal fentanyl they have sourced and allowed to distribute into our country, which has killed tens of millions of Americans.”
Some in the media believe that Trump’s actions could ignite a trade war, but the affected nations have only to protect their borders and/or quit facilitating the fentanyl trade into the United States.
“We have stressed that steep tariff increases against U.S. trading partners could create a stagflationary shock — a negative economic hit combined with an inflationary impulse — while also triggering financial market volatility,” said EY Chief Economist Gregory Daco in a Jan. 31 report.
“There could be some temporary, short-term disruption, and people will understand that,” Trump said Friday when pressed by reporters on the cost of tariffs being passed on to importers, and, by extension, consumers. “But the tariffs are going to make us very rich and very strong — and we’re going to treat other countries very fairly.”
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