Donald Trump has imposed punitive rates against Canada, Mexico and China, who continue to burden trade relationships. According to the new US president, the EU may soon have to prepare for punitive rates. Neighbors of the United States have already announced countermeasures. China even wants to submit a lawsuit. Trump remains heavy and threatens: the rates can be increased or expanded.
As the White House announced on X on Saturday, the customs for products from neighboring countries Canada and Mexico is up to 25 percent, for Canadian crude oil it is ten percent. A rate of ten percent also applies to products from China. Canada now wants to introduce rates of 25 percent in American goods. China and Mexico also announced “countermeasures”.
Commercial deficit of the United States as the main reason?
The new American rates will be in force next Tuesday. Trump had already threatened the rates in the election campaign and justified this with the trade deficit of the United States. The US president has also promised measures against the European Union -for example for steel, aluminum, copper and medicines -that he wants to decide at a later date.
National emergency situation proclaimed
To enforce the rates, Trump has announced the national emergency situation in accordance with the “International Emergency Economic Powers Act”, which gives him awarding powers to combat a crisis. According to Lesart, the smuggling of Trump from the drug fentanyl to the US and the inflow of illegal migrants, the highlight must be stopped with the rates.
The White House announced that there would be no exceptions to the rates. In the case of Canada, for example, small shipments with a value of less than $ 800 are no longer free of service.
Canada responds with against -Tariffs
Canada will increase rates from 25 percent to American goods worth $ 155 billion. Prime Minister Justin Trudeau has announced that rates apply to goods worth $ 30 billion from Tuesday, the rest will follow in 21 days. Trudeau asked the Canadians to buy domestic products and spend holidays in Canada. Further measures, such as minerals and energy, are being investigated. Canada also wants to work with Mexico.
China wants to submit a lawsuit to the World Trade Organization
In response to the announced American rates for Chinese goods, Beijing announced “corresponding countermeasures” and a lawsuit at the WTO to protect the interests of China. It remained unclear whether these measures are covering at rates. Moreover, the Chinese Ministry of Foreign Affairs rejected Trump’s drove for the rates and emphasized the successful collaboration with the US in the fight against drugs such as Fentanyl.
Taxes can be increased
Mexican countermeasures were also announced. Until now, because of the USMCA -free trade agreement between the United States, Mexico and Canada, there were hardly any allowances in the exchange of goods. Explosive: Trump could increase or expand the rates – if the countries react with retribution.
Source: Krone
I am Wallace Jones, an experienced journalist. I specialize in writing for the world section of Today Times Live. With over a decade of experience, I have developed an eye for detail when it comes to reporting on local and global stories. My passion lies in uncovering the truth through my investigative skills and creating thought-provoking content that resonates with readers worldwide.
