PALM BEACH, Fla. (AP) — President Donald Trump on Saturday signed an order to impose stiff tariffs on imports from Mexico, Canada and China, fulfilling a campaign promise but raising the prospect of increased prices for American consumers.
Trump is declaring an economic emergency to put duties of 10% on all imports from China and 25% on imports from Mexico and Canada — America’s largest trading partners — except for a 10% rate on Canadian oil.
The White House said Trump’s order also includes a mechanism to escalate the rates if the countries retaliate against the U.S., as they have threatened. Trump says the tariffs are to force the countries to do more to stop the flow of fentanyl into the U.S., but also dovetail with his embrace of protectionist measures to boost domestic manufacturing and as a potential source of revenue for the federal government.
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