Official announcement from the US government or relevant trade authorities

Trump Plans 25% Tariffs on Mexico, Canada, 10% on China

Nov 26, 2024, 05:44 AM

President-elect Donald Trump has announced plans to impose a 25% tariff on all products from Mexico and Canada, and an additional 10% tariff on goods from China, effective from his first day in office. These measures are intended to address illegal immigration and the trade of illicit drugs. China has responded by stating that economic and trade cooperation between China and the US is mutually beneficial, and warned that no one will win a trade war or a tariff war. The Chinese Embassy in Washington emphasized this stance, noting that both nations have resumed regular communication on counternarcotics since the San Francisco Summit.