Trump: Canada, Mexico, China Can't Do Anything To Delay Imported New Tariffs

UNSPLASH/Chris Barbalis ILLUSTRATION

JAKARTA - US President Donald Trump said he would impose a new, large and strong tariff of 25 percent on goods from Mexico and Canada and 10 percent on imports from China.

Trump insists there is nothing the three countries can do to prevent this new rate.

However, Trump referred to the potential decline in oil prices from Canada, saying the tariff would be 10 percent of the 25 percent planned for other goods from neighboring the United States in the north.

The Republican president indicated that a wider oil and natural gas tariff would be implemented in mid-February.

Trump had previously threatened tariffs for weeks, saying the tariff would take effect on February 1 and would remain in effect until those countries do more to stem the flow of migrants and fentanyls through the US border.

Speaking to reporters in the Oval Room when signing executive orders, Trump admitted that understanding the import duty could result in higher costs being charged to consumers and admitting his actions could cause disruption in the short term.

Most economists estimate a large import tax, and its possible retaliation, will disrupt economic activity around the world.

When asked if there was an opportunity at this stage for three major US trading partners to win the delay, Trump said: "No, no. Not now, no."

As reported by Reuters on Saturday, February 1, Trump dismissed the assumption that the threat of levies was a bargaining chip. "No, no. We are experiencing a large deficit (trade), as you know, with the three deficits," Trump stressed.

"It's something we're doing, and we're probably going to increase it significantly, or not, we'll see how it goes," Trump said.

"But a lot of money came to America," he added.

Trump said import taxes were also being considered for European goods, as well as for steel, aluminum and copper, as well as for medicines and semiconductors.

"We will charge steel and aluminum tariffs, and eventually copper. Copper will take longer," he said.