Washington
The new 25% tariff imposed on imports from Mexico and Canada by US President Donald Trump came into effect from Tuesday. At the same time, the fee on Chinese goods was doubled to 20%. With this, new business conflicts with the top three trading partners of the US started. A few hours before the tariff action was implemented, Trump said that the three countries have failed to take adequate steps to prevent the flow of deadly fantanel opioids and other drugs in the US.
According to media reports, China retaliated from March 10 to impose an additional tariff of 10% -15% on some US imports and some new export sanctions for designated American institutions. Canadian Prime Minister Justin Trudeau said that Ottawa would immediately impose 25% tariffs on US imports worth ’30 billion Canadian dollars’ (US $ 20.7 billion), and if Trump’s tariffs remain in force for 21 days, the ‘$ 125 billion canadian dollars’ (US $ 86.2 billion) would impose additional tariffs. He had earlier said that Canada would target American beer, wine, bombon, home appliances and fluorida orange juice.
“Tariff will disrupt an incredibly successful business relationship,” Trudeau said. He said that Tariff would violate the US-Mexico-Canada Free Trade Agreement signed by Trump during his first term.
Ontario’s premiere Dug Ford told NBC that he was ready to stop the transmission of nickel and electricity to the US from his province in retaliation. Mexican President Claudia Shinbam will also announce her response on Tuesday. The Ministry of Economy of Mexico gave this information. Tariff is a domestic tax imposed on goods entering the country, which is in proportion to the value of imports.
The US President has said that he has taken the decision to impose tariffs about illegal immigration and drug smuggling concerns. The Republican leader made these two main issues the basis of his election campaign.