Breitbart’s economy and finance editor John Carney breaks down the reason for President Donald Trump to threat of tariffs and dissect the failed fact of the fact of the “bottom line”.
The White House on Friday confirmed that President Donald Trump This weekend will be implemented by tariffs to Mexico, Canada and China.
Karolina Leavitt printing secretary said Trump will impose 25% imposed import from Mexico and Canada and 10% of imports to import from China, starting on Saturday, in response to “illegal fentanil who received and allowed distribution to our country, which is killed tens of millions of Americans. “
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“These are the promises and promises held by the President,” she said.
The comments were followed immediately after signed by an executive order entitled “American First Trade Policy”, which ordered government officials to “explore the causes of a large and permanent annual deficit in our country’s goods as well as in goods Implication of economic and national securitys. . , “The command alleges.
President Donald Trump brings his introductory address after sworn in as 47. President in Rotunda US Capitol 20. January 2025 in Washington, DC (Chip Somodeville/Pool/AFP via Getty Images/Getty Images)
However, his recent actions against China are far lower than his initial threats he has done during his campaign. Has committed a universal tariff of 10% to 20% on imports from all foreign countries, together with an additional 60% to 100% tariff specifically about imports from China.
Trump’s tariffs would increase consumer prices: National Retail Federation
However, Democrats and opponents claim that the cost of tariffs would be only transmitted to American consumers. Over the past few months, several traders have caused concern about the possibilities of tariffs that drop the costs of their products or even force them to reduce their supplies.
Founder Oracle Larry Ellison listens to President Donald Trump speaks in Roosevelt room at the White House 21 January 2025 in Washington, DC (Jim Watson / AFP via Getty Images / Getty Images)
For example, A dollar tree – What a great exposure to China – warned that if the tariffs are carried out, the company may have to change the details or the size of the product and even stop the brackets completely if they become too expensive.
Walmart spokesman told Fox Business that the company remains worried that significantly increased tariffs could lead to increased costs for our customers at a time when they still feel the residue of inflation. ”
In the meantime, Wall Street Titan Goldman Sachs also caused concern that hiking levies on products will increase costs for everyday Americans.
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David Franch, Executive Vice President of Relations with the Government of the National Retail Federation, said that the United States “needs an overview of our trade relations to make sure these relationships have been structured to achieve a fair, balanced and effective outcomes for US workers and companies.”
“Tariffs are a tax paid by Americans, and any new tariff tax increase should be methodically and effectively arranged according to only the most common strategic goods,” Franch said. “Taking strategic assessment of trade priorities is an important first step.”
Fox News’ Greg Norman contributed to this report.
