financetom
Business
financetom
/
Business
/
Trump pledges 25% tariffs on Canada and Mexico, deeper tariffs on China
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Trump pledges 25% tariffs on Canada and Mexico, deeper tariffs on China
Nov 25, 2024 4:30 PM

(Reuters) -U.S. President-elect Donald Trump said on Monday that on his first day in office he would impose a 25% tariff on all products from Mexico and Canada, and an additional 10% tariff on goods from China, citing concerns over illegal immigration and the trade of illicit drugs.

"On January 20th, as one of my many first Executive Orders, I will sign all necessary documents to charge Mexico and Canada a 25% Tariff on ALL products coming into the United States, and its ridiculous Open Borders," Trump said in a post on Truth Social.

Trump said the tariffs would remain in place until the two countries clamp down on drugs, particularly fentanyl, and migrants crossing the border illegally.

On China, the president-elect accused Beijing of not taking strong enough action to stop the flow illicit drugs crossing the border into the U.S. from Mexico.

"Until such time as 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 said.

Trump has previously pledged to end China's most-favored-nation trading status and slap tariffs on Chinese imports in excess of 60% - much higher than those imposed during his first term

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Texas Instruments Prices $1.2 Billion Notes Offering
Texas Instruments Prices $1.2 Billion Notes Offering
May 26, 2025
05:56 PM EDT, 05/20/2025 (MT Newswires) -- Texas Instruments ( TXN ) said late Tuesday that it has priced its offering of $550 million of 4.500% senior unsecured notes due May 23, 2030. The company said it also priced $650 million of 5.100% senior unsecured notes due May 23, 2035. Texas said it plans to use the proceeds for general...
POET Technologies Upsizes Offering to $30 Million
POET Technologies Upsizes Offering to $30 Million
May 26, 2025
05:30 PM EDT, 05/20/2025 (MT Newswires) -- POET Technologies ( POET ) said Tuesday it has increased its securities offering to $30 million following significant interest from a strategic investor. Late last month, it was offering 5 million units at $5.00 per unit to raise $25 million. Each unit comprises of one share and one warrant, with each warrant being...
Google agrees $36 million fine for anti-competitive deals with Australia telcos
Google agrees $36 million fine for anti-competitive deals with Australia telcos
Aug 17, 2025
SYDNEY, Aug 18 (Reuters) - Google agreed on Monday to pay a A$55 million ($35.8 million) fine in Australia after the consumer watchdog found it had hurt competition by paying the country's two largest telcos to pre-install its search application on Android phones, excluding rival search engines. The fine extends a bumpy period for the Alphabet-owned internet giant in Australia,...
Wolfspeed prepares to file for bankruptcy within weeks, WSJ reports
Wolfspeed prepares to file for bankruptcy within weeks, WSJ reports
May 26, 2025
(Reuters) -Semiconductor supplier Wolfspeed ( WOLF ) is preparing to file for bankruptcy within weeks, as it struggles to address its debt pile, the Wall Street Journal reported on Tuesday, citing sources familiar with the matter. Shares of the company fell over 57% in extended trading. Wolfspeed ( WOLF ) has been grappling with sluggish demand in industrial and automotive...
Copyright 2023-2025 - www.financetom.com All Rights Reserved