US President Donald Trump has announced the introduction of 25% of duties on goods from Canada and Mexico, as well as the possibility of introducing 10% of duties on imports from China. He stated this on January 30, reports Bloomberg.
According to Trump, the main reasons for this decision were illegal migration, drug flow and a major US trade deficit. He stressed that Canada and Mexico received significant "subsidies" in the form of a trade deficit, as well as accused these countries of unfair attitude to the US in economic relations.
“Mexico and Canada have never been good for us in trade. They treated us very unfairly. We do not need what they have, ”the American leader said.
At the same time, Trump noted that some goods may be exempted from new duties. For example, Canadian oil may not get new restrictions. Following his statement, the US dollar has reached the highest level against the Canadian dollar over the past five years.
S&P Global Rathings analysts in their report on January 30, 2025 note that new duties will have most affected the Mexican automotive industry, as well as in Canadian paper and rubber industry.
In addition, Trump confirmed that he is considering the possibility of introducing 10% of duties on Chinese goods from February 1. However, when communicating with journalists, he did not give a final answer to this question, noting only that the US administration "thinks of doing something" in connection with a large volume of fentanyl, which, he said, gets to the United States from China.
"China will also pay the tariff for this, and we are doing it now ... We will decide what it will be," the US President added.
