The new rates of 25 percent of the president of the United States in imports of imports from Mexico and Canada entered into force on Tuesday, along with a duplication of tariffs on Chinese products at 20PC, launching new commercial conflicts with the three main US business partners.
The tariff shares, which could turn almost $ 2.2 billion in the annual US trade. Two roads went to 12:01 am est (10 am, Pakistan time), hours after Trump declared that the three countries had not been able to do enough to stop the flow of the mortal fentanyl opioide and its precursor chemicals in the United States.
Canada and Mexico, who have enjoyed a commercial relationship practically free of rates with the US. For three decades, they were ready to retaliate immediately against their ally of a lifetime.
Canadian Prime Minister Justin Trudeau said that Ottawa would respond with immediate 25pc tariffs at C $ 30 billion ($ 20.7 billion) for the value of US imports, and others C $ 125 billion ($ 86.2bn) if Trump rates were still in force in 21 days.
He said previously that Canada would point to American beer, wine, bourbon, appliances and Florida orange juice.
“The tariffs will interrupt an incredibly successful commercial relationship,” said Trudeau, added that they would violate the US Free Trade Agreement. UU. Mexico-Canada signed by Trump during his first term.
Ontario Prime Minister Doug Ford said NBC that he was ready to cut nickel shipments and the transmission of electricity from his province to the United States in retaliation.
Mexican President Claudia Sheinbaum was expected to announce her response during a morning press conference in Mexico City on Tuesday, the country’s Ministry of Economy said.
Stacking China’s rates
The additional 10pc duty on Chinese products adds to a 10 percent rate imposed by Trump on February 4 to punish Beijing for the United States fentanyl overdose crisis.
The cumulative duty of 20PC is also in addition to tariffs up to 25PC taxes for Trump during its first term at a value of $ 370 billion of American imports.
Some of these products saw American tariffs sharply increase under former President Joe Biden last year, including a duplication of duties in Chinese semiconductors at 50pc and a quadruplication of rates in Chinese electric vehicles to more than 100 percent.
The 20PC tariff will be applied to several important imports of the US consumption electronics of China that previously did not play with previous tariffs, including smartphones, laptops, video game consoles, smart watches and speakers and Bluetooth devices.
The Ministry of Commerce of China promised Tuesday countermeasures, but did not offer details, since he said that Washington “changed the fault” for his fentanyl crisis to Beijing.
The state backed Global times The newspaper said on Monday that Beijing reprisals would probably go to agricultural and food products from the United States.
American farmers were affected by Trump’s first period commercial wars, which cost them around $ 27 billion in lost export sales and granted a participation in the Chinese market to Brazil.
Recession fears
Tariffs on Mexican and Canadian products could have much deeper repercussions for a highly integrated American economy that depends on cross -border shipments to build cars and machinery, refine energy and process agricultural goods.
“Today’s reckless decision by the US administration is forcing Canada and the United States towards recessions, the loss of jobs and the economic disaster,” said the CEO of the Chamber of Commerce of Canada, Candace Laing, in a statement.
She said that US tariffs cannot mark the beginning of a “golden age” coveted by Trump, but instead will increase costs for consumers and producers and interrupt supply chains.
“Tariffs are a tax on the American people.”
Matt Blunt, president of the American Automotive Policy Council that represents Detroit car manufacturers, requested that vehicles that meet the regional content requirements of the United States-Mexico-Canada are exempt from rates.
Even before the announcement of Trump’s tariffs, US data showed that factory door prices rose to a maximum of almost three years, suggesting that a new wave of tariffs could soon undermine production.
Trump’s confirmation that tariffs would proceed to send financial markets staggering with global actions that fall and recover. Both the Canadian dollar and the Mexican peso fell against the backback.
Accumulating
Trump has maintained a scorching rhythm of tariff shares since he assumed the position in January, including 25 percent rates fully restored on the imports of steel and aluminum that enter into force on March 12, rescuing previous exemptions.
It is expected that Trump’s “America First” agenda, with the aim of re -drawing commercial relations in favor of the United States, is a central piece of his speech on Tuesday night to a joint session of the congress.
Trump opened on Saturday a national security investigation into wood imports and wood products that could result in pronounced tariffs. Canada, who already faces 14.5pc American tariffs in soft wood, would be particularly affected.
A week earlier, Trump relived an investigation into countries that impose tax services taxes, proposed rates of up to $ 1.5 million in each ship built by Chinese entering an American port and launched a tariff investigation into copper imports.
These are added to their plans for “higher reciprocal rates” so that they coincide with the levies of other countries and compensate for their other commercial barriers, a movement that could affect the European Union strongly.
China says that it imposes new tariffs on American agricultural imports
China said it would slapped new rates in a variety of agricultural imports from the United States from next week, in retaliation against an increase in Washington’s taxes.
“Additional 15PC tariffs on chicken, wheat, corn and cotton will be imposed,” said Beijing’s Ministry of Finance in a statement.
And “additional 10 -piece rates will be imposed on sorghum, soybeans, pork, beef, aquatic products, fruits, vegetables and dairy products,” he added.
Beijing, announcing his taxes, condemned the “unilateral imposition of rates by the United States.”
The measure “exacerbates the burden of US companies and consumers, and undermines the basis of economic and commercial cooperation between China and the United States,” said the Ministry of Finance.
The Beijing Ministry of Commerce also said that it would file a demand in the World Trade Organization on additional 10 PC rates.
