Tariffen News: Goals targeting Mexico, Canada comes into force

Trumps promised 25% duty in Mexico and Canada have come into force. Another 10% duty has also been charged on Chinese goods, bringing the total added duty to 20%.

Trump has long said Tariffs is punitive, intended to limit drug trafficking to the United States. He has also claimed that they are intended to lure companies to bring more manufacture back to the United States after the official start of customs, Trump Posted on Truth Social, “If Business Moves to the United States, there are no tariffs !!!”

Mexico, Canada and China are the top three trading partners for the United States both Mexico and Canada are more dependent on the United States than vice versa, which means the economic impact can be greater for these two countries than for US China, meanwhile has the largest proportion of trade in the world.

On January 31, Trump first announced new tariffs including a 10% duty on China and a 25% duty on all goods imported to the United States from Mexico and Canada with an exception: Oil from Canada would have a 10% duty. On February 3, leaders from Canada and Mexico negotiated a delay of one month of customs by promising to increase the border patrol’s efforts.

But on February 4, the original 10% duty in China still came into force. China responded with retaliatory guares ranging from 10% to 15% on a specific set of energy products, cars and agricultural machinery. These tariffs came into force on February 10th.

Then on February 7, Trump suspended tariffs on small packages from China. Before the message, the United States Postal Service stopped USPS to comply with the sweeping 10% customs card with accepting any packages from China. All packages from China under $ 800 will be imported duty free to US

On February 1, Canada announced recipient tariffs. But after a call with Trump days later, Canadian President Justin Trudeau said Canada’s Customs in the United States would also be pushed back by a month.

Canada has already adopted retaliation 25% duty of C $ 155 billion ($ 107 billion) of US products. Cariffs of C $ 30 billion of US goods began on Tuesday, and the remaining rates of additional C $ 125 billion begin in 21 days.

Mexico President Claudia Sheinbaum said Mexico will advertise his own retaliatory tariffs on March 9.

China reciprocated with customs impairment from the United States, which includes 15% duties on chicken, wheat, corn and cotton import. There will also be 10% tariffs on sorghum, soybeans, pork, beef, aquatic products, fruits, vegetables and dairy products. The tariffs begin on March 10th.

Retalatory tariffs would increase prices of goods imported from the United States and could potentially lead to a trade war.

Estimates from the Peterson Institute for International Economics (PIIE) show that 25% tariff rates in Mexico and Canada would slow down growth and accelerate inflation. US consumers would see Prices are rising on goods coming from these countries. Consumers would also see higher prices for goods manufactured in the United States that require supplies from these countries.

The Occupational Complexity Observatory (OEC), which provides global trading data, says the most important products that Mexico exports to the US are computers, cars as well as motor vehicles, parts and accessories. The United States mainly exports refined oil, motor vehicle parts and accessories as well as petroleum gas to Mexico.

Canada primarily exports raw oil, cars and petroleum gas to the United States in the meantime, the United States mainly exports cars, refined oil and delivery cars to Canada.

China exports a wide range of products and supplies to the United States, including phones, computers, electric batteries, light fixtures and parts of motor vehicles and accessories. The United States mainly exports soybeans, cars, petroleum gas, integrated circuits and crude oil to China.

Trump has planned three other tariffs that would be placed on all nations, including a 25% duty on aluminum and steel (March 12) and an unspecified duty on all foreign cars (April 2).

On March 4, Trump signaled that he was doing a new agricultural bariff. He posted for truth social, “To the great farmers in the United States: Get ready to start making a lot of agricultural product to be sold inside the United States. Tariffs go on external product on April 2nd. Have fun! “Trump did not indicate which agricultural products could be affected.