On his first day in office, Trump proposed imposing a 25% tariff on goods from Canada and Mexico, potentially as soon as February, citing concerns that these countries are allowing large numbers of people to enter the US.
On Monday, reports indicated that Donald Trump did not plan to impose tariffs on trading partners such as Canada, Mexico, and China. Instead, he intended to direct authorities to evaluate trade relations with China and its North American neighbors, according to a Wall Street Journal report citing a summary of a proposed memorandum and statements from Trump’s advisers.
Trump proposed a punishing 60% levy on goods from China. He pledged to use tariffs as a negotiating tool on other countries, including, for example, Denmark — putting pressure on the European nation to give control of Greenland to the United States. He also signed a directive telling federal agencies to conduct a 30-day review of how they can help to lower the costs of housing, health care, food, energy and home appliances as well as finding ways to bring more people into the workforce.
Following his election victory in November, Trump had threatened to impose tariffs on goods from Canada, Mexico, and China. Meanwhile, concerns persist within the EU over the possibility of new tariffs being introduced.
