US President Donald Trump Stands Firm on Tariffs on Goods from Mexico and Canada
Washington, March 4 (Bernama-dpa) – US President Donald Trump has made it clear that he is standing firm on the announced tariffs on goods from Mexico and Canada, with the tariffs set to come into effect on Tuesday.
Speaking in Washington on Monday, Trump stated, "They’re all set. They go into effect tomorrow," in response to a question about whether there was still a chance for an agreement. He emphasized that there was no room for the two neighbouring countries to find a solution.
The punitive tariffs of 25 per cent are set to be imposed on goods from Canada and Mexico, while additional tariffs of 10 per cent are also set to be imposed on goods from China.
This move comes after Trump agreed to delay the threatened punitive tariffs of 25 per cent on goods from Mexico and Canada in early February, following concessions on border security. However, the US government has since imposed additional tariffs of 10 per cent on imports from China, which Beijing has countered with reciprocal measures.
Background: The Trade Dispute
The trade dispute between the US, Mexico, and Canada began in early February, when Trump threatened to impose tariffs on goods from the two countries if they did not agree to meet certain demands regarding border security. The US president subsequently delayed the tariffs, and the two countries agreed to a 30-day delay. However, the US government has since imposed additional tariffs on imports from China, leading to a broader trade dispute.
Global Economic Concerns
The trade dispute has raised concerns about the potential impact on the global economy, with many experts warning of the possibility of a trade war. The tariffs imposed by the US government have already led to retaliatory measures from other countries, including China, and have had a significant impact on global trade flows.
Conclusion
In conclusion, the tariffs on goods from Mexico and Canada are set to come into effect on Tuesday, and it appears that there is no room for an agreement to be reached. The trade dispute has raised concerns about the potential impact on the global economy, and it remains to be seen how the situation will unfold in the coming days and weeks.
FAQs
- What are the tariffs being imposed by the US government?
The US government is imposing tariffs of 25 per cent on goods from Canada and Mexico, and 10 per cent on goods from China. - Why are the tariffs being imposed?
The tariffs are being imposed in response to concerns about trade imbalances and national security. - What is the impact of the tariffs on the global economy?
The tariffs have already led to retaliatory measures from other countries, and have had a significant impact on global trade flows. The potential long-term impact on the global economy is still unclear. - Can the tariffs be avoided?
It appears that there is no room for an agreement to be reached, and the tariffs are set to come into effect on Tuesday.