US President Donald Trump gave a one -month increase in February after both Mexico and Canada promised to give concessions. But Trump said on Monday that there was no place left to avoid new tariffs for Mexico or Canada. Canada-Mexico’s deadline has expired. And 25% of the tariffs will be imposed today. US President Donald Trump said there was no scope for delay.
25% will be applicable today
US President Donald Trump has announced that a 25 percent tariff will be imposed on Canada and Mexico from today. Trump said there is no time to delay this. So after this announcement, the suspicion of the trade war in North America has increased again. Trump said in the Roosevelt room that the tariff is meant to force both US neighbors to intensify the fight against Fantanel’s trafficking and prevent illegal immigration. However, Trump has also indicated that he wants to adjust the trade imbalance between the two countries and encourage more factories to move to the United States. Trump said 25 percent tariffs will start from today on Canada and Mexico.
American Share Market Market
Following Trump’s announcement on the tariff, the US share market has seen a stir. The SADP 500 index was down 2 percent. This is a sign of political and economic risks. This is a sign of high inflation and the potential end of the decades -old trade partnership with Mexico and Canada, which is forced to take political and economic risks. Yet the Trump administration still believes that tariffs are the Best option to promote American production and attract foreign investment. Commerce Secretary Howard Lutnik said on Monday that computer chip maker TSMC has expanded its investment in the US due to the possibility of 25 percent tariffs separately.
‘We will make our decision ourselves’
Prior to Trump’s statement, Mexican President Shenbaum said this is a decision that depends on the US President. So whatever their decision, we will make our decision ourselves. The two countries have tried to take action in response to Trump’s concerns. Mexico sent 10,000 National Guard troops to their shared border to prosecute drug smuggling and illegal immigration.
