U.S. President-elect Donald Trump pledged to quickly impose tariffs on China, Mexico and Canada – the country’s top three trade partners – raising the prospect of trade wars and higher prices for U.S. consumers.
Trump used a series of posts on his Truth Social account to announce the moves, including saying on his first day in office he will “sign all necessary documents to charge Mexico and Canada a 25 percent tariff on ALL products coming into the United States, and its ridiculous Open Borders.”
He said the tariffs would remain in place until “Drugs, in particular Fentanyl, and all Illegal Aliens stop this Invasion of our Country!” Trump said Mexico and Canada can “easily solve this long-simmering problem.”
He also complained about what he said was China’s role in “the massive amounts of drugs, in particular Fentanyl, being sent into the United States.”
“Until they stop, we will be charging China an additional 10% Tariff, above any additional Tariffs, on all of their many products coming into the United States of America,” Trump wrote.
China responded by saying “no one will win” a trade or tariff war.
“China believes that China-U.S. economic and trade cooperation is mutually beneficial in nature,” Liu Pengyu, a spokesman for China’s embassy in the United States, said.
The United States, Mexico, and Canada signed a new trade deal during Trump’s previous term in office, a deal that will be up for review in 2026.
The deal does allow for national security exemptions for restrictions.
