Search Results: how long is too long

POTUS-elect Donald J. Trump said on Monday that he would impose a 25% tariff on ALL products coming into the USA from Canada & Mexico his 1st day, a move that would cause chaos with North American supply chains and impose heavy costs on businesses & consumers around the continent. He further said he would levy the tariff by executive order until drugs & migrants stopped coming over the border.

“Both Mexico & Canada have the absolute right and power to easily solve this long simmering problem,” he added. “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!”

In a separate post, Mr. Trump also threatened an additional 10% tariff on ALL products from China.

“Representatives of China told me that they would institute their maximum penalty, that of death, for any drug dealers caught doing this but, unfortunately, they never followed through, and drugs are pouring into our Country, mostly through Mexico, at levels never seen before,” he said.

The tariffs would have dramatic implications for American industries, including auto manufacturers, farmers and food packagers, which busily ship parts, materials and finished goods across U. S. borders.

The costs could be particularly high for the industries that depend on an integrated North American market. Adding 25% to the price of imported products could make many too costly, potentially crippling trade around the continent. That in turn could cause spiking surges of inflation and shortages for consumers in the United States.

Mr. Trump made even more aggressive tariff threats during campaign, including suggesting that he would impose a levy of 60% or more on Chinese goods & tariffs of 10-20% on those from other countries.

Mexico, China & Canada are America’s 3 largest trading partners, gobbling up $830 billion of US exports in 2022.