Beginning today, 25% blanket tariffs on all imports from Mexico and Canada will apply. The Trump administration also increased the tariff on all Chinese imports from 10% to 20%.
A White House press release was issued shortly before the tariffs came into effect, stating: “While President Trump gave both Canada and Mexico ample opportunity to curb the dangerous cartel activity and influx of lethal drugs flowing into our country, they have failed to adequately address the situation.”
China has retaliated by imposing a 15% tariff on chicken, wheat, corn, and cotton imports from the U.S. and a 10% tariff on sorghum, soybeans, pork, beef, aquatic products, fruits, vegetables, and dairy products. Additionally, China has halted soybean imports from three U.S. entities.
China’s Foreign Ministry spokesperson stated, “China will fight until the end.”
“I want to reiterate that the Chinese people have never feared evil or ghosts, nor have we ever bowed to hegemony or bullying. Pressure, coercion and threats are not the right ways to engage with China. Trying to exert maximum pressure on China is a miscalculation and a mistake.”
By CEO NA Editorial Staff
