ECONOMYNEXT – Newly inaugurated US President Donald Trump has promised more tariffs and taxes on ‘other countries’ after being sworn in and has also withdrawn from the World Health Organization.
“We’re thinking in terms of 25 percent on Mexico and Canada, because they’re allowing vast
numbers of people — Canada’s a very bad abuser also — vast numbers of people to come in,
and fentanyl to come in,” he said in the Oval Office.
“Instead of taxing our citizens to enrich other countries, we will tariff and tax foreign countries to enrich our citizens,” Trump added in an inaugural address as president, though higher prices for imports are paid for by American citizens, who reduce purchases of other goods.
He added that he was thinking of enacting these tariffs on February 1.
On the campaign trail, Trump also floated the idea of added duties on all imports and steeper rates — 60 percent or more — on Chinese goods.
In a bizarre turn After promising tariffs to push up cost of goods, Trump had signed a directive for all federal agencies “to address the cost-of-living crisis that has cost Americans so dearly,” calling for action to lower housing costs and others,” AFP news agency said.
Trump has also given ticktock 75 day grace period from a ban.
