In several posts on his social media platform “Truth Social”, Trump promised to impose tariffs on all goods imported into the United States from these countries.
“On January 20th, in one of my many first executive orders, I will sign all necessary documents to impose a 25% tariff on all products entering the US from Mexico and Canada and their ridiculous open borders,” Trump wrote.
In another post, Trump said he would impose a 10% tariff “on top of any additional tariffs” on all products entering the US from China to punish it for failing to prevent fentanyl smuggling.
Tariffs are an important part of Trump’s economic agenda. His first term as president was characterized by aggressive and protectionist trade policies targeting China, Mexico, Canada and Europe.
Many economists have warned that tariffs will hurt economic growth and increase inflation.