WASHINGTON, D.C. — US President Donald Trump is set to unveil fresh tariffs Saturday on major trading partners Canada, Mexico and China, threatening upheaval across supply chains from energy to autos and raising inflation concerns.
Trump has promised to impose 25 percent tariffs on immediate neighbors Canada and Mexico , pointing to their failure to stop illegal immigration and the flow of fentanyl across US borders.He also vowed a 10 percent rate on imports from China , the world's second biggest economy, charging that it had a role in producing the drug.The United States runs 'big deficits' with all three countries too — and this is another issue the president has honed in on.
It added that automakers and suppliers also produce components throughout the region, meaning tariffs will likely increase costs for vehicles.'We should be focused on going hard against competitors who rig the game, like China, rather than attacking our allies,' Schumer said in a statement.Both Canada and Mexico have said they are prepared to respond if Trump acts on tariffs, raising the specter of an escalating conflict.
To Hit Canada Mexico China With Tariffs Raising Price Fears
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