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Trump: The customs duties application on Mexico and Canada on March 4 Economy news

manhattantribune.com by manhattantribune.com
27 February 2025
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Trump: The customs duties application on Mexico and Canada on March 4 Economy news
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27/2/2025–|Last update: 27/2/202508:47 PM (Mecca time)

US President Donald Trump said on Thursday that customs duties of 25% ordered that they are imposed on Mexico and Canada will enter into force on the fourth of next March as decided, indicating that drugs are still flowing to the United States from both countries.

He added that he would impose additional customs duties of 10% on Chinese goods on that day, in addition to the 10% customs duties imposed on February 4 on imports from China.

Trump stated that the drugs are still flowing to the United States “at very high and unacceptable levels”, and a large percentage of them of deadly fentanel.

The Trump publication ends a confusion that occurred yesterday, Wednesday, regarding the final dates of customs duties on Canadian and Mexican goods, which the President threatened to impose due to the fentanel and security crisis on the American border.

In Trump’s comments, during the first federal government meeting yesterday, Wednesday – it appeared that the deadline for the customs duties application may be postponed for a month until April 4.

Trump had suspended comprehensive customs duties on Canada and Mexico on February 3 for a month after the leaders of the two countries announced new border security measures.

Economists – as Bloomberg reported – warned that Trump’s “Edge’s Edge Policy” puts North America on the brink of a commercial war, will harm American growth, and to exacerbate inflation, and may lead to recession in Mexico and Canada.

Trump customs definitions risk destroying global trade (Getty)

Economic turmoil

The new tariffs that Tram waved risk destabilizing the commercial agreement of North America that Trump signed during his first term. Trade in goods and services between Canada and the United States amounted to about 920 billion dollars in 2023, while the trade between Mexico and the United States amounted to about 900 billion dollars, according to US Trade Ministry data. Trump’s new definitions are expected to raise prices in America significantly.

Trump is dealing with greater caution with China – the third largest commercial partner for the United States – during the first weeks of his second term, and he talked about his desire to reach a trade agreement with Beijing. However, his last pledge to impose more customs duties threatens to deteriorate relations, as well as efforts to tighten investment restrictions on major products such as semiconductor.

Tags: applicationCanadacustomsdutieseconomymarchMexicoNewsTrump
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