President-elect Trump said Monday that he will impose new tariffs on goods from Canada, Mexico and China through an executive order on the first day of his new term next year.
In a series of posts on Truth Social, the president-elect said he would enact tariffs of 25 percent on all Canadian and Mexican goods, and add another 10 percent tariff to all Chinese goods — many of which are already under tariffs imposed by Trump during his first term.
Trump said the new tariffs are meant to push all three nations to take stronger efforts to bolster border security and crack down on fentayl exports to the U.S.
“Both Mexico and Canada have the absolute right and power to easily solve this long simmering problem. We hereby demand that they use this power, and until such time that they do, it is time for them to pay a very big price!,” Trump posted on Truth Social.
Trump pledged during his campaign to impose import taxes of 10 to 20 percent on all foreign goods, with tariffs of up to 60 percent on Chinese goods. Canada, Mexico and China are the U.S.’s largest trading partners.
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