President Donald Trump announced plans to impose tariffs on Mexico and Canada as early as February, citing concerns over immigration. He also hinted at using tariffs against China to pressure them into approving a U.S. partner for TikTok. Trump aims to use tariffs to protect American workers, encourage countries to curb fentanyl trafficking, and generate revenue for the U.S. federal government.
President Donald Trump said Monday that tariffs could be levied against Mexico and Canada as soon as Feb. 1.
The president also toyed with the idea of hitting China with intensified tariffs over social media site TikTok. Trump reportedly has been considering a 25% tariff on Canadian goods, part of plans to impose 10% duties on all countries that could escalate over time. Such a move against Canada would hit its economy hard considering the two nations do in excess of half a trillion dollars a year in trade.The president also toyed with the idea of hitting China with intensified tariffs over social media site TikTok. Trump rescued the app from being shuttered in the U.S.
Along with seeking to protect U.S. business interests, Trump has said he wants to use the levies as ways to encourage Canada and Mexico to clamp down on fentanyl trafficking. In, Trump pledged to designate international drug gangs as terrorist groups. Doing so gives the administration additional tools in fighting the inflow of drugs across the border.
TRUMP TARIFFS MEXICO CANADA CHINA TIKTOK TRADE
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