Steven Miller, Deputy Director of White House, breaks down President Donald Trump’s tariff on Kudro.
The trade deficit with other countries in the United States, according to new data announced on Wednesday, promoting tariffs as a way to achieve that purpose during the active campaign of President Donald Trump. It was in the middle of an aggressive campaign to fill.
President Donald Trump will speak through video conferencing at the 55th Annual General Meeting of the 55th World Economic Forum, held in Davos, Switzerland on January 23rd. (Halil Sagirkaya / Anadolu Byotty Images / Getty Images)
The Ministry of Commerce reported that in 2024, US property deficit increased by 14 % and stuck at $ 1.2 trillion, and imported in December of $ 364.9 billion in December before Trump took office.
The report indicates that the United States has a serious deficit with some trade partners, including China, Mexico and Canada. These are targeted by Trump with a wide range of tariffs or additional tariffs.
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The President on Monday has stopped 25 % of Mexico and Canadian products until next month.
Monetarymacro.com CIO Joseph Wang argues that Donald Trump’s tariffs in Canada and Mexico are more than just negotiation tactics about “making money.”
Another 10 % collection for products from China was enforced on Tuesday.
While the new administration has primarily explained tariffs related to the management of illegal immigration and the movement of illegal drugs, a surge in deficits could bolster debate over protectionist trade policy.
Trump says that Xi Jinping, the Chinese president, knows where he is in tariffs. (Ton Molina / Bloomberg via Getty Images / Getty Images)
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Trump often lamented the massive trade deficit between China and the United States, reaching nearly $1 trillion last year.
Fox Business’s Danielle Wallace and Reuters have contributed to this report.
