Donald Trump has said he will impose tariffs of 25 percent on all imports from Canada and Mexico, and an extra 10 percent on Chinese goods, accusing t

Trump targets Mexico and Canada with tariffs, plus an extra 10% for China

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2024-11-26 15:00:06

Donald Trump has said he will impose tariffs of 25 percent on all imports from Canada and Mexico, and an extra 10 percent on Chinese goods, accusing the countries of permitting illegal migration and drug trafficking.

In a post on his social media site Truth Social, Trump said he would impose the tariffs on Canada and Mexico on his first day in office “on ALL products coming into the United States, and its ridiculous open borders,” which would remain in place “until such time as Drugs, in particular Fentanyl, and all Illegal Aliens stop this Invasion of our Country.”

Trump said the tariffs on China would apply to all imports and would come on top of existing levies, as he criticized Beijing for failing to follow through on promises to impose the death penalty for people dealing fentanyl, a deadly synthetic opioid.

The Canadian dollar fell 0.9 percent against the US dollar to a four-year low, while the Mexican peso shed 1.3 percent, adding to a sharp depreciation this year. China’s onshore renminbi slipped 0.1 percent to Rmb7.25.