Trump announces tariff plan targeting 3 countries

U.S. President-elect Donald Trump has announced that once he assumes the presidency, he will impose a 25 percent tariff on all products entering the U.S. from Mexico and Canada, and an additional 10 percent tariff on products from China.

In a statement on his social media platform, Truth Social, Trump shared details regarding the tariffs he intends to impose on Mexico, Canada, and China, citing the need to ensure border security and prevent the export of drugs, particularly fentanyl, into the country.

Pointing out that thousands of people are crossing through Mexico and Canada, bringing "crime and drugs" into the country at levels never seen before, Trump stated that a "caravan" of thousands of people from Mexico currently appears unstoppable in its attempt to cross the "open" U.S. border.

Trump stated, "On January 20, as one of my first executive orders, I will sign all necessary documents to charge Mexico and Canada a 25 percent tariff on all products coming into the United States and its ridiculous open borders. This tariff will remain in effect until such time as drugs, in particular fentanyl, and all illegal aliens stop this invasion of our country."

Noting that Mexico and Canada have the absolute right and power to easily solve this long-standing problem, Trump remarked, "We demand that they use this power, and until they do, it is time for them to pay a very big price."

ADDITIONAL 10 PERCENT TARIFF ON CHINESE PRODUCTS

Pointing out that he has held many discussions with China regarding the large quantities of drugs, especially fentanyl, being sent to the U.S., Trump noted the following:

"Chinese representatives told me they would impose the maximum penalty, the death penalty, on any drug dealers caught doing so, but unfortunately, they never followed through, and the drugs are pouring into our country, mostly through Mexico, at levels never seen before. Until this stops, we will be charging China an additional 10 percent tariff, above any additional tariffs, on all of their many products coming into the United States."