Trump tariffs: which countries are affected and what does this mean? | Trump administrationstar-news.press/wp

Donald Trump followed on Saturday with his promise to determine the tariffs of Canada, Mexico and China in reprisals over immigrants and illegal drugs saying to now entered from those countries.

The White House said that the tariffs would be implemented from 1. February, but according to the president’s executive, entitled with the flow of illegal drugs through our northern border, into force or after 12:01 eastern Time 4. February 2025. Years .

From the Mar-Laga, Trump signed three executive orders that sets a 25% tariff on all goods from Canada and Mexico, and a 10% tariff on Canadian oil exports and Chinese goods. All tariffs are imposed under the jurisdiction of the Law on International Economic Economic Power. If the countries influenced revelation, the white house officials were indicated, the tariff rates will increase.

Here’s what we know about Trump Tariffs so far:

What are the tariffs issued by Trump?

The White House said that in China would be placed 25% of the tariff in Canada and Mexico and 10% tariffs in China. How much will expand the tariffs still vaguely. Trump could execute exemption for certain sectors, such as oil and gas or restrict the tariffs to select groups.

During the past week, as the deadline approached, some trump advisors appeared insecure whether tariffs would be imposed on tariffs. “I can’t tell you when,” Peter Navarro, Trump’s senior trade and production adviser, told CNBC Friday.

With even Trump’s wrinkles that fight to keep up with the next moves, anything could happen before the tariff is imposed.

What is the tariff and why Trump wants to use it against certain countries?

Tariff is a tax charged on a foreign slave imported into the country. The United States is currently the largest importer of goods in the world – 2022. year, the value of imported goods in the USA presented 3.2 tn.

Before entering the office, Trump threatened the tariffs on the three largest trade partners of the United States: China, Mexico and Canada. Specifically, he said he wanted to see a 25% rate on Mexico and Canada and 10% tariffs in China, until the countries deal with immigrants and illegal drugs entering the United States.

Trump sees tariffs as a strong bargaining chip – but comes with a high price.

Trump’s tariff frameworks as a policy that can apply pressure to American manufacturers and importers to produce goods in the country.

“All you need to do is build your plant in the United States, and you have no tariff,” Trump said. But the global economy is intertwined with decades. For example, American farmers could not produce the number Avocados Mexico produce for many years.

This means that importers will probably push the costs of tariffs on consumers, causing growing prices.

How will US consumers affect the tariffs?

25% of tariffs on all imports from Mexico and Canada will make consumer prices increase. Canada is the main exporter of crude oil, while Mexico exports a lot of fresh fruits and vegetables. Mexico is also the largest exporter of auto parts on the United States. China is the main exporter of chips used in electronics such as phone and laptops.

All entirely, the United States have imported goods in the amount of 1.2 TN Canada, Mexico and China in combination in 2023. years.

It is not just imports that consumers do not buy directly. When tariffs stimulate the price of imports, which includes imported materials used for other products in the United States. Higher prices of materials will eventually move for consumers.

Tax Foundation, Bipartisan Thinktank, estimates In order for 25% of tariffs to Mexico and Canada and a tariff of 10% in China, as taxes, increased total taxes for 1,2. Trump celebrated the idea that the U.S. government would receive more revenue through tariffs, but ultimately American consumers would reduce the account.

The Americans firmly strengthened the tariffs of striking, they will have at prices. In November Harris / Guardian survey, almost two-thirds of Americans said they expected prices to increase if Trump conducts wide tariffs.

Which federal laws trump power to bring tariffs?

The U.S. Federal Law provides the President of the Wide Powers to bring tariffs without the approval of the Congress.

Trump has the power to declare the national economic situation in order to bring his tariffs. This would summon the international act on emergency economic powers (IEPA), which provides the President the power to manage import during national ambulance.

Trump can also apply tariffs according to Section 232 of the Law on Expanding Trade, which provides the President to the imposition of tariffs on certain industries. It is Trump used in 2018. year, when hit by Canada, Mexico and the European Union with Tariffs on aluminum and steel.

How did other countries respond to Trump?

Leaders from Canada and Mexico suggested that he would work with Trump administration to deal with his concerns for immigration and illegal drugs. Canada said that in conversations with American officials over the creation of “Strike Strike sthernyl”. Mexico, in the meantime, said he would create a similar immigration group.

If this cooperation is not enough for Trump, Canada and Mexico will probably implement their own tariffs against American imports in retaliation, which would injure American business. Canadian Prime Minister Justin Trudeau said on Friday that his country would bring “violent, but reasonable” tariffs against the United States.

After the Trumps set up the Mexican steel and aluminum in 2018. in the year, Mexico responded to tariffs on pork, cheese and other goods, who want to hurt American manufacturers in retaliation. The United States and Mexico eventually reached an agreement in 2019. to raise their tariffs.

Do you have a question about Trump Tariffs? Wondering how they affect inflation, prices or economies? We’re here to help. Callum.jones@theguardian.com and we can answer your question in the future story