US President Donald Trump will be imposed on Saturday on Saturday of 25% for Mexico, 25% in Canada and 10% on China on February 1, says the White House.
But Trump said on Friday that the Canadian oil would be affected by a lower tariff of 10%, which could take effect later, February 18th.
The president also said that he was planning to impose tariffs in the future to the European Union, saying that the block did not treat the US well.
The Karolina Leavitt White House secretary said that duties in Canada and Mexico were a response to “the illegal fentanil who received and allowed them to distribute to our country, which killed 10 million Americans.”
Trump has also repeatedly said that the move is to resolve large quantities of unfathomable migrants who have encountered US borders as well as a trade deficit with their neighbors.
Mrs. Leavitt said on Friday at the White House in the White House: “These are the promises and promises held by the President.”
During the election campaign, Trump threatened to hit products from Chinese tariffs up to 60%, but gave up any immediate actions of the first day at the White House, instead of ordering his administration to study the issue.
Imports of American goods from China have been flattened since 2018, statistics that economists have partly attributed to a series of escalating tariffs imposed by Trump during his first term.
Earlier this month, the highest Chinese official warned about protectionism because Trump’s return to the Presidency renewed the threat of a trade war between the two world’s largest economics – but now he did not mention his name.
Speaking to the World Economic Forum in Davos, Switzerland, Ding Xuexiang, Vice Prime Minister China, said his country is looking for a “Win-Win” solution for trade tension and wants to expand his import.
China, Canada and Mexico are the main American trade partners, which makes up 40% of the goods imported to the US last year, and fears are growing so that the new steep levies could start a major trade war, as well as stimulate prices in us.
Canadian Prime Minister Justin Trudeau said on Friday: “It’s not what we want, but if he’s moving forward, we’ll act too.”
Canada and Mexico have already said that they will respond to US tariffs with their own measures, and at the same time they want to secure Washington to take measures to resolve concerns about their borders of the US.
The BBC in the US has addressed the Chinese embassy.
If US oil imports from Canada and Mexico are affected by a collection, he risks to the Trump’s promise to reduce living costs.
Tariffs are imported goods tax produced abroad.
Theoretically, taxation of objects coming to a country means that people buy them less because they become more expensive.
The intention is to buy cheaper local products instead – enhancing the country’s economy.
But the cost of tariffs to imported energy could be transferred to companies and consumers, which can increase the prices of everything, from gasoline to groceries.
On Friday, Trump agreed that tariff costs are sometimes transferred to consumers and that his plans can cause disorders in the short term.
About 40% of the raw oil that goes through US oil refineries is imported, and the vast majority come from Canada.
