By current matters
U.S President, Donald Trump has announced new tariffs on Canada, Mexico and China in what appears to be a significant shift from its three biggest US trade partners.
The tariffs will amount to a N25% duty on all imported goods from Mexico and most goods from Canada and a 10% tariff on Chinese goods imported into the United States.
The president however pegged tariff on Canadian energy at 10%given that most Americans rely on Canadian Energy products , including oil for gasoline and home heating.
The new policy represents a reversal of the duty- free trade between the three North American countries that has existed for several years
Trump,who announced the new tariffs at his Mar – a- Lago club on Saturday, said tariffs are aimed at curbing the flow of drugs and undocumented immigrants into the U.S..
He however, noted the effects the new policy would have ” There could be some temporary short – term disruptions and people will understand that, the tariffs are going to make us very rich, very strong and we’re going to treat other countries very fairly”Trump was quoted as saying to reporters Friday
But Trump’s policy has received strong condemnation and opposition with threats of retaliation at home and abroad.
In his reaction, Senate Minority Leader, Chuck Schumer said it would be nice if Donald Trump could start focusing on getting the prices down instead of making them go up “
According to him, the tariffs” will likely hit Americans in their wallets ” he rather suggested that lawmakers should instead be focusing on” going hard against competitors who rig the game, like China, rather than attacking our allies “
On its part,Canada, one of the neighbours hit by the new tariffs said ” Canada has done nothing to provoke tariffs
Jonathan Wilkinson, the country’s energy and natural resources minister who took to X to express his country’s anger assured the citizens” each and every Canadian,no matter who you are or where you live,we are prepared and ready to fight for you,We will always be your champions”
Mexico also has threatened to respond to the new tariffs with corresponding taxes on US goods..
U.S imports Vehicles,,Spare parts fruits like Avocados from Mexico, and also imports Vehicles, electricity,Grains,Beef, Poultry Vegetables ,Oil and Gas, others from Canada.
