Palm Beach, Florida (AP) -President Donald Trump stated that Sunday could feel “some pain” from the emerging trade wars caused by tariffs on Canada, Mexico, and China, and Canada “exists”. The surplus of trade with the United States claimed that it will stop.
Analysis: 9 Chart Trump tariffs and potential economic impacts of trade wars
Trump’s trading punishment at the Florida Resort on Saturday threatened to destroy the partnership of decades ago on North America’s trade, causing a mix of panic, anger, and uncertainty, and even more nervous with China. 。
“The Canadians are confused,” said the US ambassador Kirsten Hillman. “We are regarded as your neighbor, your close friend, your friend.”
Following the campaign pledge, Trump may have simultaneously broke the promise of voters that his administration could quickly reduce inflation in last year’s election. That means that the same frustration that he faced from other countries may spread to consumers and companies in Japan.
“Is there any pain? Yes, maybe (and maybe not!),” Said Trump in a social media post. “But we will make the United States great again, and it is worth the price that we need to pay.”
His administration needs to improve its price, or what improvements are needed to stop illegal immigrants and prevent Fentanyl smuggling under the legal legitimacy of the economic emergency. It is not stated that Trump is worth removing tariffs. Customs will start on Tuesday.
“When the price goes up, it’s for the reaction of others to American law,” said Christie Noem, his secretary, Christie Noem.
In his true social post, Trump responded in retaliation, especially for Canada. Trump imposes 25 % tariffs on Canadian products, with 10 % tax on petroleum, natural gas, and electricity. Canada imposes 25 % more than $ 15.5 billion of US products, including alcohol and fruits.
Trump opposed Canada’s trade surplus with the United States. “I don’t need anything they have. We have unlimited energy. We have more wood than we can make and use our own car.”
Despite Trump’s claim that the United States does not need Canada, one -quarter of the petroleum consumed by the United States is to the north from allies.
Trump argued that without the surplus, Canada would no longer exist as an executable country. Strict but true! Therefore, Canada should be our important 51st state. Large taxes, much better for Canada people -and no tariffs! “
According to Ambassador to Washington in Canada, the United States has a $ 75 billion trade deficit with Canada last year, but one -third of Canada sold to the United States is energy exports and high oil prices. I sometimes said that there was a deficit. Approximately 60 % of US imports in the United States are from Canada.
Watch: What is Trump’s tariffs for the largest trade partner in the United States and US consumers?
Prime Minister Justin Trudeau has encouraged Canadians to buy more Canadian products, and Trump’s movements only cause pain in North America. More than 75 % of Canadian exports are exported to the United States first target alcohol, cosmetics and paper products. The second round includes passenger cars, trucks, steel and aluminum products, specific fruits, vegetables, beef, pork, diary, etc.
Canada is the largest export market in 36 states, and Mexico is the largest trade partner in the United States.
The Canadians said, “I don’t understand where this is coming from … and maybe a little scratches?” Hillman, Ambassador, said in ABC’s ABC on Sunday.
Mexico President Claudia Sheinbaum also announced new tariffs and suggested that the United States should do more in its own border to deal with drug addiction. She and Trudeau spoke after Trump’s announcement, agreeing to “strengthen powerful bilateral relations between Canada and Mexico,” according to the Prime Minister’s Office.
The Chinese government said that it would take measures to defend economic interests, and said that it would file a lawsuit with the World Trade Organization.
For Trump, an unresolved problem is whether inflation can be a political pressure point that will retreat him. As a candidate, Trump has repeatedly hit the Democratic Party on inflation under President Joe Biden, which is a problem of supply chains in Coronavirs Pandemic. This was the Biden administration’s own spending and promoted Russia’s invasion of Ukraine.
Mr. Trump said that his president had a low inflation in the past four years, and said that if he returned to the White House, the general public should expect the same. However, he specifically stated that higher inflation would be staggering the United States as a nation.
“Inflation is a disaster,” he said at a Philadelphia campaign rally. “It’s a country buster. It’s a complete country buster.”
Rally Summers, the Secretary of the Clinton administration, said the tariff was “self -harm to the US economy.”
“In the next nine months, the moment of trying to defeat it, it could rise as much as 1 %,” he told CNN’s Inside Politics.
He says, “Bullying is not a permanent strategy in playgrounds and international relations, and that’s it.” And the ultimate winner said, “We are the closest allies on his skills. “I suggested that it will be a Chinese leader Xi Jinping to legalize everything he is doing by violating all the international norms we have set up.”
External analysis has revealed that Trump’s tariffs will hurt voters who were willing to help. In other words, he may eventually need to find a resolution.
Yale’s Budget Research Institute has shown that if tariffs continue, the average US households will lose about $ 1,245 this year. 。
Goldman Sachs emphasized on a Sunday analyst memo that tariffs would be enforced on Tuesday. In other words, it is highly likely that the last -the -mouth compromise cannot be completely excluded.
Investment banks concluded that “customs duties are likely to be temporary, but I don’t think the outlook is unknown,” due to the possibility of economic damage and the possibility of removal.
Toronto’s AP telecommunications writer Rob Gilly’s contributed to this report.
