U. S. President-elect Donald Trump has declared his intention to implement a 25% tariff on all products from Mexico and Canada, alongside an additional 10% tariff on goods originating from China. This move, according to Trump, addresses issues related to illegal immigration and the trade of illicit drugs.
In line with his economic agenda, Trump has previously committed to imposing tariffs to bolster U .S. manufacturing and has specifically targeted China for higher tariffs than those imposed during his first term. Trump’s tariff strategy, however, is expected to face resistance from trading partners. The United States-Mexico-Canada Agreement (USMCA), which facilitated duty-free trade among the three nations since 2020, could be at risk.
Mexico’s finance ministry highlighted the importance of the USMCA for trade certainty while Canada’s Deputy Prime Minister Chrystia Freeland and Public Safety Minister Dominic LeBlanc emphasized the mutual benefits of their trade relationship with the United States.
I’m Lori Boyer for reporting for AgNet West.