US imposes steep tariffs on Canada, Mexico, China

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WASHINGTON: Increasing its trade war with several countries, President Donald Trump’s administration on Tuesday announced additional taxes on imports from China, Canada and Mexico, which launched a rapid retaliation from Beijing and Ottawa.

US prices on Canada and Mexico were implemented when a deadline for President Trump’s levies without a deal, without a deal, without a deal, without a deal.

In February, Trump unveiled blanket prices on imports of Canada and Mexico – and then stopped, alleging that he had failed to stop illegal immigration and drug trafficking.

Moving forward with duties, Trump cited the lack of progress in dealing with drug flow in the United States.

Duties are meant to affect more than $ 918 billion of US imports from both countries.

Trump also signed an order on Monday to increase the 10 % tariff on China to 20 % – various Chinese goods pile up existing levies on various Chinese goods.

Beijing condemned the “unilateral implementation of revenue by the United States” and rapidly responded, saying it would impose 10 % and 15 % levies on a range of agricultural imports from the United States to soybean, from the United States to soybean.

Next week, that rates will be implemented.

Economists have warned that revenues can increase consumer prices by weighing on taxes and employment.

Asian markets fell on opening on Tuesday, with Japan’s Nikki Index reduced by more than two percent after Trump’s latest tariff operations and Hong Kong’s Hang Seng by 1.5 percent.

The Tax Foundation estimates that before calculating foreign retaliation, revenue on Canada, Mexico and China will reduce US economic production by 0.1 % this time.

And especially on Canada and Mexico, the supply chain for key sectors such as automobiles and construction equipment, such as automobiles and construction equipment, is at risk of increasing cost of households.

This could complicate Trump’s efforts to fulfill his election campaign promises to reduce prices for Americans.

On Monday, Trump told reporters that Canada and Mexico should “create their car plants in the United States, and other things in the United States” to face without prices.

Former US officials view Trump’s prices as a means of dealing with social and economic problems on drugs like Phantenal-while providing legal justification for moving forward fast.

Washington also wants to take advantage of and balance trade relations, analysts say.

But the use of emergency economic powers to impose tariffs on Canada, Mexico and China is a novel, and it can prosecute.

‘Existential risk’

Canadian Prime Minister Justin Trudeau on Monday promised to impose a retaliation on Washington 25 %, saying: “Canada will not allow this blatant decision to respond.”

Mexico’s President Claudia Shenbam said he had emergency plans in his country.

If Trump continues with his price plans, KPMG chief economist Dian Sonak warned him before his implementation: “We can easily reach the most effective tariff rate since the beginning of 2026.”

He told AFP that both consumers and manufacturers stand to bear the cost of additional revenue, which can reduce demand and mobilize the business as businesses try to control the costs.

Robert Dietz, chief economist of the National Association of Home Builders, told AFP that the group expects “Joint Duty tariff rate of more than 50 percent on Canada’s lumbar” as the proposed duties increase.

Even when the United States plans to increase the forests, Dietz said prices will likely increase in short run.

He said some builders expect them to cost more than $ 7,500 to $ 10,000 per new family house.

Industry Push Back

The industry has already been prepared before Trump has doubled at prices.

In a statement, a group of 270 US firms in China, a group of 270 US firms, warned in a statement that sweeping prices would hurt US firms, consumers and farmers, “and would damage our global competitiveness.”

“Any use of taxes should be strategic and targeted, which focuses on specific US national security goals and unfair Chinese economic ways,” said Sean Stein, president of the council.

In the meantime, the National Retail Federation has warned that as long as there are revenue on Canada and Mexico, “Americans will be forced to pay a higher price on domestic goods.”

Although Washington has targeted China on chemicals for illegal fantasy, there are also legitimate use of many components – the prosecution has been made difficult.

Trudeau has said that less than one percent of fantasy and non -documentary immigrants entering the United States crosses the Canadian border.