President of Oleary Ventures, Kevin Oleary, joins Fox & Friends to discuss his conversation with President Donald Trump concerning prices in Canada and Mexico and Elon Musks claims that the US Treasury has approved fraudulent payments.
President Donald Trump The move to impose prices on the goods of Mexico, Canada and add other prices to China, triggered reactions from several commercial groups, which have warned that additional import taxes would increase costs for consumers and American producers.
The president signed a decree on Saturday which authorized a 25% import on imports From Canada and Mexico and an additional 10% rate on imports from China, to enter into force on Tuesday.
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)
THE Mexico goods prices And Canada was both suspended on Monday for another month after the leaders of the two countries accepted concessions and continuous discussions with Trump on how a trade war could be avoided.
But if an agreement is not concluded, the prices of the two countries, as well as their rates of retaliation threatened in the United States, could still come into force.
Automobile groups react to Trump prices on imports from Canada, Mexico, China
Here are the reactions of several commercial groups on new prices:
American Farm Federation
The American Farm Bureau said that President Zippy Duvall “expressed his alarm as to potential damage to farmers” following new prices.
“The members of the Farm Bureau support the objectives of security and to ensure fair trade with our North American neighbors and China, but, unfortunately, we know from experience that farmers and rural communities will bring the weight of reprisals” Duval said in a statement.
A farmer spreads the fertilizer on his land. AFBF warned that prices in Canada will increase the price of fertilizer for American farmers (Harold Hoch BC Last Look RNP Images (Photo by Harold Hoch / Medianews Group / Reading Eagle via Getty Images) / Getty Images)
The head of the Farm Bureau pointed out that more than 80% of the American potash offer, a key fertilizer ingredient, comes from Canada and warned the prices that increase fertilizer prices “threaten to wear the finances Families of farmers already struggling with inflation and high supply costs.
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Duvall also noted that more than 20% of US agricultural income Comes from exports, and Mexico, Canada and China are the three main buyers. Combined, he said, these markets represent almost half of all exports per value.
Association of consumer brands
Tom Madrecki, the vice-president of the resilience of the consumer association’s supply chain, said that the professional association supported a “America’s trade policy”, but warned prices on all goods Imported from Mexico and Canada “could lead to higher consumer prices and reprisals against American exporters.”
He added: “We urge the leaders in Mexico and Canada to work with President Trump to protect consumers’ access to affordable products and remove prices that could contribute to grocery inflation.”
National Association of House Manufacturers
The National Association of House Manufacturers (NAHB) warned that prices on Canadian and Mexican products would hinder household manufacturers and Increase the cost of housing In addition, and urged the Trump administration to reconsider this decision.
The National Association of House Manufacturers warned that prices in Canada and Mexico would increase the costs of critical building materials.
“More than 70% of imports from two essential materials on which house manufacturers count – wood and gypsum (used for dry partitions) – come from Canada and Mexico, respectively,” said the president of NAHB, Carl Harris.
“Wood prices and other building materials increase the cost of construction and discourage new development, and consumers end up paying the prices in the higher prices of houses.”
National Association of Manufacturers
The president and chief executive officer of the National Association of Manufacturers, Jay Timmons, welcomed the success of the United States-Mexico-Canada agreement that President Trump implemented during his first mandate, but Warned that prices in Canada and Mexico have threatened American supply chains.
“The training effects will be serious, especially for small and medium manufacturers who do not have flexibility and capital to quickly find alternative suppliers or absorb flower energy costs,” said Timmons. “These companies – the employment of millions of American workers – will face significant disruptions. In the end, manufacturers will bring the weight of these prices, undergo our ability to sell our products at a competitive price and to put jobs Americans in danger. “
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National Retail Federation
“We support the Trump administration’s objective of strengthening trade relations and creating equitable and favorable terms for America,” said David French, vice-president of government relations for the national federation of the National Federation National, in a press release. “But imposing steep prices on three of our closest business partners is a serious step.”
The NRF has encouraged “all parties to continue to negotiate to find solutions that will strengthen trade relations and avoid changing the costs of policy failure shared on the back of American families, workers and workers small businesses. “”
US Chamber of Commerce
The leaders of the American Chamber of Commerce warned before and after Trump’s announcement that the prices could harm the Americans.
“The president is right to focus on major problems such as our broken border and the scourge of fentanyl, but the taxation of prices under the ieepa is unprecedented, will not solve these problems and will only raise prices for American families and upset the supply chains, “the main vice-president of the chamber and chief of the international John Murphy said in a statement according to this decision.
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Last week, the president and chief executive officer of Murphy of the American room, Suzanne Clark, warned against the United States imposing general prices, with Clark saying in a press release: “The essential is as follows: The prices are a tax paid by the Americans, and their broad and blind use would be suffocated growth in the worst time.
