No Result
View All Result
China Secrets Revealed
  • Economy
  • Editor’s Pick
  • Investing
  • News
  • Stock
  • Economy
  • Editor’s Pick
  • Investing
  • News
  • Stock
No Result
View All Result
China Secrets Revealed
No Result
View All Result
Home News

White House to impose tariffs on Mexico, Canada and China due to ‘invasion of illegal fentanyl’

by
January 31, 2025
in News
0
White House to impose tariffs on Mexico, Canada and China due to ‘invasion of illegal fentanyl’

White House Press Secretary Karoline Leavitt confirmed that President Donald Trump will execute tariffs on Mexico, Canada and China starting Saturday.

Trump’s economic plan during his campaign called for extending the 2017 tax cuts and imposing tariffs ranging from 10% to 20% on all imported goods. For countries like China, that number could go up to 60%.

These countries will face these tariffs because they have allowed an ‘unprecedented invasion of illegal fentanyl that is killing American citizens,’ according to Leavitt. 

‘The president will be implementing tomorrow a 25% tariff on Mexico, 25% tariffs on Canada, and a 10% tariff on China for the illegal fentanyl they have sourced and allowed to distribute into our country, which has killed tens of millions of Americans,’ Leavitt told reporters at a Friday White House press briefing. ‘These are promises made and promises kept.’

Canadian Prime Minister Justin Trudeau said Friday that Canada was prepared to respond to any tariffs executed, and warned there could be ‘disastrous consequences’ for American workers and consumers. 

‘We’re ready with a response, a purposeful, forceful but reasonable, immediate response,’ Trudeau said. ‘It’s not what we want, but if he moves forward, we will also act.’

Meanwhile, Leavitt said that the tariffs are not expected to spark a trade war with Canada and that Trump would respond to Trudeau in ‘due time.’ 

‘The president is intent on doing this,’ Leavitt said. ‘And I think Justin Trudeau would be wise to talk to President Trump directly before pushing outlandish comments like that to the media.’

When asked if Mexico, Canada or China could offer any concessions to remove these new tariffs, Leavitt said Trump would decide at a later date. 

‘If the president at any time decides to roll back those tariffs, I’ll leave it to him to make that decision,’ Leavitt said. ‘The president is intent on ensuring that he effectively implements tariffs while cutting inflation costs for the American people.’ 

House Republicans moved to reintroduce the U.S. Reciprocal Trade Act on Jan. 24, a measure that would permit Trump to unilaterally impose trade taxes on both adversaries and allies. 

Trump previously praised the measure in 2019, claiming it would ‘give our workers a fair and level playing field against other countries.’

Meanwhile, House Democrats Reps. Suzan DelBene, D-Wash., and Don Beyer, D-Va., also introduced their own legislation in January that would block Trump from using emergency powers to implement tariffs, amid concerns that American consumers would end up footing the bill.

‘The American people have clearly and consistently said that the high cost of living is one of their top concerns,’ DelBene said in a statement on Jan. 15. ‘Not only would widespread tariffs drive up costs at home and likely send our economy into recession, but they would likely lead to significant retaliation, hurting American workers, farmers, and businesses.’

The Associated Press and Fox News’ Elizabeth Elkind contributed to this report. 

This post appeared first on FOX NEWS
Previous Post

Sports bar chain Twin Peaks is going public. These restaurant companies are the next to watch.

Next Post

UPS shares tank 15% after weak guidance, plan to slash Amazon deliveries by more than half

Next Post
UPS shares tank 15% after weak guidance, plan to slash Amazon deliveries by more than half

UPS shares tank 15% after weak guidance, plan to slash Amazon deliveries by more than half

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!
  • Trending
  • Comments
  • Latest
No millionaire tax hike in Trump’s ‘big, beautiful bill’

No millionaire tax hike in Trump’s ‘big, beautiful bill’

0
TD Cowen downgrades Molson Coors, lowers price target to $58: Is it time to exit?

TD Cowen downgrades Molson Coors, lowers price target to $58: Is it time to exit?

0
Google’s antitrust ruling draws parallels to Microsoft’s 25-year-old case: Here’s how

Google’s antitrust ruling draws parallels to Microsoft’s 25-year-old case: Here’s how

0
In 2023, Colorado Lawmakers Pushed Back on Cops Practicing Pain Medicine Based on Flawed CDC Guideline

In 2023, Colorado Lawmakers Pushed Back on Cops Practicing Pain Medicine Based on Flawed CDC Guideline

0
No millionaire tax hike in Trump’s ‘big, beautiful bill’

No millionaire tax hike in Trump’s ‘big, beautiful bill’

May 12, 2025
Trump official targeted in Biden-era ‘disinformation’ dossier still under wraps days after Rubio revelation

Trump official targeted in Biden-era ‘disinformation’ dossier still under wraps days after Rubio revelation

May 12, 2025
Senior House Republican eviscerates Dems for ‘fear campaign’ against Trump’s ‘big, beautiful bill’

Senior House Republican eviscerates Dems for ‘fear campaign’ against Trump’s ‘big, beautiful bill’

May 12, 2025
A Tale of Two Trade Deals

A Tale of Two Trade Deals

May 12, 2025

Recent News

No millionaire tax hike in Trump’s ‘big, beautiful bill’

No millionaire tax hike in Trump’s ‘big, beautiful bill’

May 12, 2025
Trump official targeted in Biden-era ‘disinformation’ dossier still under wraps days after Rubio revelation

Trump official targeted in Biden-era ‘disinformation’ dossier still under wraps days after Rubio revelation

May 12, 2025
Senior House Republican eviscerates Dems for ‘fear campaign’ against Trump’s ‘big, beautiful bill’

Senior House Republican eviscerates Dems for ‘fear campaign’ against Trump’s ‘big, beautiful bill’

May 12, 2025
A Tale of Two Trade Deals

A Tale of Two Trade Deals

May 12, 2025

Disclaimer: ChinaSecretsRevealed.com, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2024 ChinaSecretsRevealed. All Rights Reserved.

No Result
View All Result
  • Economy
  • Editor’s Pick
  • Investing
  • News
  • Stock

Copyright © 2024 ChinaSecretsRevealed. All Rights Reserved.