Donald Trump has signed executive orders imposing significant tariffs on imports of goods from Canada, Mexico, and China. This was reported by The Washington Post, according to UNN.
Details
According to a White House official who spoke to reporters, Trump signed a total of three executive orders imposing additional tariffs.
The publication notes that this was the first step by the Trump administration in its second trade war.
U.S. importers will pay a new 25% tax on goods from Canada and Mexico, as well as a 10% fee on goods from China
Under the trade agreement that Trump signed during his first term, most goods from Canada and Mexico were not tariffed, while many Chinese goods were taxed at up to 25%. It is noted that the new customs tariffs will be an additional burden on importers.
Recall
In December, even before his inauguration, Trump saidthat the EU could face tariffs if the bloc did not reduce its growing deficit with the US by making major oil and gas deals with the world's largest economy.
Also, US President Donald Trump saidthat he will follow through on his threat to impose a 25% duty on imports from Canada and Mexico this Saturday, February 1. He cited the flow of fentanyl and a large trade deficit as the reasons for his decision.