Hmmmmm?
First of all?
A President Trump made deals with those countries on trade…..
Second?
Tariffs , which ARE Import taxes, come from Congress….
Third of All….
Hiking the cost of goods from the THREE Largest Foreign trade ‘partner’s’ could have an immediate effect on American consumere prices going UP….
He may actually try this…
But like his effort at the same thing in 2019….
It won’t last past a week or two one would guess…
This IS showboating….
I told you the guy’s in a Alternate Universe….
“This Tariff will remain in effect until such time as Drugs, in particular Fentanyl, and all Illegal Aliens stop this Invasion of our Country! Both Mexico and Canada have the absolute right and power to easily solve this long simmering problem. We hereby demand that they use this power, and until such time that they do, it is time for them to pay a very big price!” Trump wrote in a post on Truth Social, his social media site….
…
The threatened tariffs will affect large swaths of U.S. trade. Goods valued at more than $1.5 trillion move among the three North American nations, while the United States and China exchange about $600 billion worth.
Monday’s social media posts represent Trump’s most detailed comments on his tariff plans since his election victory this month. He said that on Jan. 20, he will sign “all necessary documents” to impose the import taxes via executive orders….
…
Under the United States-Mexico-Canada Agreement (USMCA), which took effect in 2020, goods moving among the three North American nations cross borders on a duty-free basis.
“Obviously, unilaterally imposing a 25 percent tariff on all trade blows up the agreement,” said Veroneau, a partner at Covington & Burling in Washington.
Each country affected by the president-elect’s plans is likely to retaliate with tariffs on U.S. goods, which will hurt exporters, he said.
Tariffs on Mexican and Canadian products will be especially disruptive for the auto industry. Half-finished vehicles often move across North American borders several times before they are completed. Adding a 25 percent fee to each movement could erode automakers’ profits or give consumers sticker shock….
…
This is not the first time that Trump has tried to use trade policy to address unrelated issues. In May 2019, he announced a series of escalating tariffs against Mexico designed to pressure the Mexican government into stopping Central American migrants from crossing its territory. Trump said he would impose a 5 percent tariff on Mexican goods, which would increase in 5 percent increments each month until the border problem was resolv
The announcement sparked criticism from business representatives and some Senate Republicans at the time, who called it a misuse of the president’s tariff authority.
Little over a week later, Trump lifted the tariff threat, saying that Mexico had agreed to take “strong measures” to curb the influx….
Leave a Reply
You must be logged in to post a comment.