Trump Vows New Canada, Mexico, China Tariffs that Threaten Global Trade
November 25th, 2024Do you need any electronics, mobile phones, computers, displays, or any other things not made in the U.S.?
Even if companies were to capitulate and build factories in the U.S. (some will, most won’t) it’s not going to happen in time.
Via: Reuters:
President-elect Donald Trump on Monday pledged big tariffs on the United States’ three largest trading partners – Canada, Mexico and China – detailing how he will implement campaign promises that could trigger trade wars.
Trump, who takes office on Jan. 20, 2025, said he would impose a 25% tariff on Canada and Mexico until they clamp down on drugs, particularly fentanyl, and migrants crossing the border, in a move that would appear to violate a free-trade deal.
Trump also outlined “an additional 10% tariff, above any additional tariffs” on China, in some of his most specific comments on how he will implement his economic agenda since winning the Nov. 5 election on promises to “put America first”.
I wouldn’t move my company to the US, because there’s no guarantee that, after Trump’s four years, a new president won’t eliminate the tariffs or do something else to disadvantage American companies again. Having to move away so soon after moving here would be too great a cost, perhaps bankrupting some companies. The foreigners would like that, maybe are looking forward to it.