Trump Resurrects His Extreme Tariffs Yet Again
Donald Trump is warning tariffs on China, Canada, and Mexico will take effect in a matter of days.
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It seems that Trump’s massive tariffs are back on.
Earlier this month, Trump’s 25 percent tariffs on goods from Mexico and Canada—which he inaccurately used drug trafficking to justify—were paused at the last minute. But on Thursday, President Trump announced the tariffs on the two countries, along with 10 percent tariffs on China, will begin on March 4. And he’s still hung up on the drugs.
“Drugs are still pouring into our Country from Mexico and Canada at very high and unacceptable levels. A large percentage of these Drugs, much of them in the form of Fentanyl, are made in, and supplied by, China,” the president wrote on Truth Social. “We cannot allow this scourge to continue to harm the USA, and therefore, until it stops, or is seriously limited, the proposed TARIFFS scheduled to go into effect on MARCH FOURTH will, indeed, go into effect, as scheduled. China will likewise be charged an additional 10% Tariff on that date. The April Second Reciprocal Tariff date will remain in full force and effect. Thank you for your attention to this matter. GOD BLESS AMERICA!”
These tariffs will likely cause the price of various goods—from cars to gaming consoles, to over-the-counter pills—to increase dramatically.
“Trump says 25% Canada/Mexico tariffs and another 10% China tariffs are coming next week. Meanwhile, US steel prices spiked 9%-20% last week and US manufacturers just reported their highest input costs in two years,” wrote Scott Lincicome, the vice president of the libertarian Cato Institute. “I’m sure it’s fine.”
Earlier this week, it was reported that Trump’s spending freeze has halted a counter-narcotics program at the U.S.-Mexico border. Meanwhile, Trump is also threatening the entire European Union with a similar 25 percent tariff, further isolating the U.S. from its economic allies.