US Secretary of Commerce Howard Lootnik said on Tuesday that President Donald Trump may announce a settlement of customs duties imposed on Canada and Mexico, but will continue to pressure China, hours after the Canadian Prime Minister denounced a “stupid” trade war.
In an interview with the Fox Business channel on Tuesday, Lootnick said, “I think he will reach a solution with them,” talking about the possibility of reaching a “median solution” with the Canadians and Mexicans.
Earlier on Tuesday, Canadian Prime Minister Justin Trumpo accused him of being “causing the collapse of the Canadian economy” to make the process of annexing Canada “more easily.”
Trudeau denounced the contradiction between the United States launched an economic war on its “closest allies” while talking about “the appearance of (Russian President) Vladimir Putin … a false and murderer dictator.
The goods received from Mexico and Canada have been subject to customs duties by 25%.
Trump takes on Canada, Mexico and China not to make sufficient efforts to combat trafficking in fentanel, an anesthetic AFI that causes a widespread health crisis in the United States, and in February he confirmed that he imposes these fees to urge them to move.
Canada responded to this with a “immediate” application of customs duties by 25% on some American products, to expand its scope during the current month.
Trump promised an additional increase on the customs duties he imposed on Canadian goods.
“I hope you explain to the ruler of Canada Trudeau that when he imposes reprisal fees on the United States, our mutual fees will immediately increase the same amount,” Trump wrote on his platform Truth after Trudeau announced the imposition of customs duties by 25% on American goods.
till the end
On Monday, Trump signed an executive order to raise the customs duties imposed on China from 10% to 20%, which he had pledged in his election campaign.
For its part, China responded on Tuesday by announcing the imposition of customs duties by 10 and 15% on a group of agricultural products from the United States and ranged from chicken and soy, at the same time condemning the “unilateral” decision of Washington.
Experts and companies warn that high import costs may lead to an increase in prices on consumers, which may hinder efforts to reduce inflation.
This also applies to grocery stores, as Mexico constituted 63% of US vegetable imports and about half of the country’s imports of fruits and nuts in the year 2023, according to the US Department of Agriculture.
Brian Cornell giant, CEO of Targit Cornell, said that the company may have to raise the prices of some fruits and vegetables in the coming days.
“If there is a tariff of 25%, then these prices will rise,” he told CBC.
“It is clear that the short -term effect of any tariff is inflation,” Merck regional head of North America, Charles van der Stein, said in a statement to the same network.
https://www.youtube.com/watch?v=taeyvkrswqo
Housing costs can also be affected. More than 70% of the two main construction substances (soft wood and gypsum) are the source of Canada and Mexico, according to the National Association of House Builders.
Truck drivers at the Utay Maysa border crossing in Mexico told Agence France -Presse that they had an impact while waiting to cross into the United States.
The reprisals imposed by Ottawa entered US commodities worth $ 30 billion in implementation on Tuesday, and Trudeau said that its scope would accommodate “the remaining 125 billion dollars in American products within 21 days.”
Trumpo said that Trump is a “smart man”, but the imposition of customs duties “is very stupid.”
China said that its customs fees for US imports will enter into force next week and will extend tens of billions of dollars.
Beijing also announced the suspension of the import of American wood, and the cessation of the import of soy pills from 3 American sources, and the Chinese Foreign Ministry has pledged to fight the American trade war to the end.
