Economist Steve Moore and the former member of the Blank House economic advisers, Tomas Philipson, discuss President Donald Trump’s prices on foreign countries on “results”.
Canada and Mexico each announced prices on American imports on Saturday in retaliation for the American president Donald Trump Place prices on both countries.
Trump had signed an executive decree authorizing an additional 25% rate on imports from Canada and Mexico and an additional 10% rate on imports from China. Energy imported from Canada, including oil, natural gas and electricity, would be taxed for an additional 10%.
The White House cited “the extraordinary threat posed by illegal foreigners and drugs, including deadly fentany” which supports “is a national emergency”. The prices will come into force on Tuesday.
The prices, if they are supported, could lead to a worsening of inflation considerably after Trump swore on the campaign track to reduce the prices of grocery, petrol, housing, cars and D ‘Other goods, according to the Associated Press. Prices on the largest American trade partners are likely to harm the world economy.
Trump imposes prices on imports from Canada, Mexico and China: “ national emergency ”
President Donald Trump delivered his inaugural speech after being sworn as 47th President of the United States on January 20 in Washington, DC (SOMODEVILLA / POOL / AFP chip via getty images / getty images)
Trump’s order also undertakes to increase rates if countries retaliated, which could lead to an even more serious economic disruption, but that did not prevent Canada and Mexico from doing this.
“The measures taken today by the White House separate us instead of gathering us,” said Canadian Prime Minister Justin Trudeau at a press conference, announcing that the neighbor of the North American would place prices of 25% of 25% out of $ 155 billion in American imports, including alcohol and fruit.
Trudeau has expressed the betrayal that many Canadians feel, reminding Americans that Canadian troops fought alongside them in Afghanistan and helped respond to various disasters in the United States, including forest fires in California and the Hurricane Katrina.
“We were still there with you, in mourning with you, the American people,” he said.
Trudeau warned against economic pain Due to prices And encouraged Canadians to “choose Canadian products and services rather than Canadians”. However, he expressed his optimism in the lasting relationship between the two countries.
“It will have real consequences for people, for workers on both sides of our border,” he said. “We don’t want to be here. We haven’t asked for this, but we will not back down to get up both for Canadians and for incredible successful relations between Canada and the United States.”
Mexican president Claudia Sheinbaum also ordered reprisal rates.
Trump’s prices take effect on Saturday: what to know
US President Donald Trump (L) and Canadian Prime Minister Justin Trudeau (R) attend the Grove hotel on December 4, 2019 in Watford, England. (Dan Kitwood / Getty Images / Getty Images)
“We categorically reject the slander of the White House according to which the Mexican government has alliances with criminal organizations, as well as any intention to meddle in our territory,” wrote Sheinbaum in an article on X, noting that she had asked It is up to his secretary of the economy to implement an answer, this includes reprisals and other measures.
“If the American government and its agencies wanted to approach the serious consumption of fentanyl in their country, they could fight the activity generates which has done so much harm to its population,” she added.
The Prime Minister of the Canadian Province of British Columbia, David Eby, also called on residents to stop buying liqueurs from the GOP in the United States and said that he withdrew the marks of American alcohol of the shelves of the government store in response to prices.
China also responded to Trump’s prices, saying that they would file a complaint to the World Trade Organization and that they would take “corresponding countermeasures to resolutely protect our own rights and interests”.
“China is strongly dissatisfied and firmly opposes it”, ” Chinese Ministry of Commerce said in a press release.
A new analysis of the Yale LAB budget said that the average American household would lose the equivalent of $ 1,170 in revenue from Trump’s new prices, according to the Associated Press. Economic growth would slow down and inflation would worsen, and economic impact could become even worse with reprisals from other countries.
The command would also allow rates on Canadian imports of less than $ 800. According to the Associated Press, imports lower than this issue are currently authorized in the United States without customs and rights.
Mexican president Claudia Sheinbaum and US President Donald Trump. (Emmanuel Rosas / Obturadormx / Getty Images, on the left, and Allison Robbert-Pool / Getty Images, on the right. / Getty Images)
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Washington Democrats have criticized Trump’s order, warning that any inflation in the near future would be the result of Trump’s actions.
“You worry about the prices of the grocery store. Don increases the prices with his prices,” wrote the head of the Senate minority, Chuck Schumer, Dn.y., wrote on X.
“You worry about the prices of tomatoes. Wait until Trump’s Mexico prices increase the prices of your tomatoes,” he said in another article.
The Democratic chief added in another article: “You worry about the prices of the cars. Wait until Trump’s prices in Canada increase the prices of your car.”
