Trump officially launches 'trade war': Imposes additional tariffs on 'those' countries
With an executive order signed today, Trump has imposed a 25 percent additional customs duty on the US's two neighbors, Canada and Mexico. It was also reported that an additional 10 percent tax has been imposed on imports from China. International media interpreted Trump's decision as a 'trade war'.
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US President Donald Trump, has approved an executive order mandating additional customs duties on products imported from Canada, Mexico, and China. According to a statement from the White House, a 25 percent additional tax will be applied to imports from Canada and Mexico, while a 10 percent additional tax will be applied to imports from China. A lower tariff of 10 percent was imposed on energy products imported from Canada.
Stating that this decision was taken under the International Emergency Economic Powers Act (IEEPA), Trump said the following:
'I promised to stop the entry of illegal aliens and deadly drugs into our country. Americans voted accordingly.'
According to a report by Reuters, the US President recalled the promises he made during his election campaign regarding border security and the fight against drugs while signing the executive order. Meanwhile, the US-based The Economist, the additional tariff decisions 'Trump's trade war' reported under the headline.
Trump made the following assessment regarding the issue of security:
'It is my duty to protect Americans and ensure their safety.'
This decision could initiate a new period of tension in the U.S.'s relations with its trading partners. Although Canada and Mexico have not yet made an official statement, similar retaliatory steps are expected. The executive order signed by Trump was shaped specifically in line with goals to combat border security issues and drug trafficking.